ascending triangle in a bearish trend - very good reversal sign!

15 mar 2019

hey traders,

though I rarely post my thoughts concerning bitcoin,
tonight I have a very good reason.

as bears pushed the market to 3200 on a daily chart we see heavily oversold rsi.

since December 2018, the price is coiling in a very significant reversal pattern - ascending triangle.
usually, in a strong bearish trend, this pattern leaves clues that the sentiment is changing on the market,
and bears are exhausted.

I will be waiting for a bullish violation of 4000 - resistance level that holds the market.

once this level is broken, it will trigger massive buying reaction from the market participants.

the first target should be a little bit below 5000.0 level,
and the second is around 6000.0.

Targets are based on structure!

good luck!