Clear mother candle/inside bar, close high set-up on long term BTC-USD

in #bitcoin7 years ago (edited)

To those of you getting sweaty palms about the current down-move in crypto, this might offer some piece of mind.

BTC_USD_IB_CH.png

As you can clearly see, we have a classic MC-IB setup with a close-high down on top of the long-term bullish trendline and it's also solidly placed on top of the 200 MA (not visible on this screenshot as the option is not available on cryptocompares charting app from where this is taken, but take my word for it). So, odds are good for more upwards momentum in the near future, provided the futures arrangement of Bitcoin hasn't managed to hi-jack it and the dark side isn't short on it also.