Triangle Watch - Bitcoin
At the risk of copying yesterday's bitcoin analysis, episode '#2 of Triangle Watch features a(nother) look at Bitcoin!
There's a reason I'm doing Bitcoin again instead of another coin though. Let's start with the 4 hour chart and I'll show you why...
4 Hour Chart = Triangle Broken
https://www.tradingview.com/x/yBbJHSCb/
4 Hour BTC/USD Chart
If we look at the triangle on the 4 hour chart; it looks like it has been broken to me right now.
There is the possibility that a new/different bottom part of the triangle could be formed, but as it is right now? It seems to have failed to my eyes. (But please let me know what you reckon).
The $11,200-ish resistance is keeping the price suppressed, this is because on the 4 hour time frame, BTC has lost some of its strength and the MACD has moved to the bearish side.
But on the daily chart:
Daily = Triangle Still In Play?
https://www.tradingview.com/x/igxA3sl6/
BTC/USD Daily Chart
It looks to be still inside the triangle here to me, but let me know what you think here too!
The RSI is also maintaining strength here, and the MACD is also bullish and just getting itself above the zero line currently. So on this longer time span, it still looks bullish for Bitcoin at the moment.
Summary
The 4 hour triangle seems to have been broken, and things look pretty neutral on that time span right now too.
But...
The daily chart remains largely unchanged and it continues to show strength on the RSI and bullishness on the MACD also.
Based on that, I'm leaning more to the bullish side personally right now, but what about you? Let me know below!
Thanks for viewing! & Enjoy the rest of your Sunday!
Want more technical analysis and crypto related posts? See also: 
Not intended as investment, financial, or trading advice. For entertainment purposes only.