Potential Rally

2020년 5월 8일

Here on the daily chart we're seeing some good signals. EMAs crossing on top of breaking the cloud with supports being confirmed at historical levels, we are seeing a potential reverseH&S signalling a continuation of the ever looming all time up-trend of BTC. We are also seeing the coming conclusion of a 4-5 year consolidation symmetrical triangle to again, signal a further continuation of the up-trend. I am looking for two closes: first, above the triangle leading line. The next close to confirm a rally in the coming month or two is a break of the baseline for the reverse H&S. Seeing these closes would confirm a rally on high volume. The above analysis coupled with increasing volume on up days and lower volume on down days precedes price movements and is indicating an upcoming rally if this pattern continues.