Bitcoin is looking to break out as it tests the top of this triangle for the sixth time . We now have the MACD cross showing momentum rising slightly, but decreasing volume and the MFI indicator is decreasing .
I haven't done any fundamental research into current news stories that could have a bearing on price so this is strictly a TA perspective from a beginner .
There is still a lot of time left on today's candle , and most of the US market is turning in for the night , so maybe volume will pick up .
My opinion is that there just isn't enough volume to give it the push it needs to break through the top of the triangle today ...... But , this is crypto so things can change in an instant .
What do you all think ? Will we break out of the triangle ? Will volume pick up as the week goes on? Please leave a comment below with any opinions , critique , or technical analysis .
* Drawn on Android phone. Please excuse the small size .
Not Financial Advice. For education & entertainment purposes only .
I haven't done any fundamental research into current news stories that could have a bearing on price so this is strictly a TA perspective from a beginner .
There is still a lot of time left on today's candle , and most of the US market is turning in for the night , so maybe volume will pick up .
My opinion is that there just isn't enough volume to give it the push it needs to break through the top of the triangle today ...... But , this is crypto so things can change in an instant .
What do you all think ? Will we break out of the triangle ? Will volume pick up as the week goes on? Please leave a comment below with any opinions , critique , or technical analysis .
* Drawn on Android phone. Please excuse the small size .
Not Financial Advice. For education & entertainment purposes only .