BTCUSD 8/18/19
LONG IDEA
1hr & 4hr TF
BTC price action has been consolidating between 9800-10550 in an ascending triangle pattern. Due to the significance of this 10k area and the recent rally behind btc we are going to stay with the overall trend and look for long positions.
A clean break of the 10550.00 zone will confirm a strong bullish movement toward our target at 11200.00. A nice break & retest of our grey structure zone & 200 ema would be an ideal entry.
If price action fails to break this level at 10550.00 We will consider short positions after this pattern is broken along with a break of the 10200.00 area.
LONG IDEA
1hr & 4hr TF
BTC price action has been consolidating between 9800-10550 in an ascending triangle pattern. Due to the significance of this 10k area and the recent rally behind btc we are going to stay with the overall trend and look for long positions.
A clean break of the 10550.00 zone will confirm a strong bullish movement toward our target at 11200.00. A nice break & retest of our grey structure zone & 200 ema would be an ideal entry.
If price action fails to break this level at 10550.00 We will consider short positions after this pattern is broken along with a break of the 10200.00 area.