Bitcoin (BTCUSD) Update; Still Within Major Pattern, No Damage Done Yet by technicaltrader

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cryptocurrency · @technicaltrader · Oct 11 '18

$0.06

Bitcoin (BTCUSD) Update; Still Within Major Pattern, No Damage Done Yet

![](https://cdn.steemitimages.com/DQmf1xB59BLZ5AvHT9KfZBBkdcprdDrRHTsGogvUYvGjQTP/image.png)

Whilst there is a lot of weakness in Crypto's today (possibly in sympathy to global equities selling off), it's important to put the BTC move in to context. Whilst it's down 5% on the day as I type, a quick look at the daily chart shows it has done no damage whatsoever to the larger pattern.

Price could still move in either direction. The levels to watch are 5,755 on the downside and the upper boundary of the descending triangle currently around 6,750.

See here for my full analysis. https://steemit.com/cryptocurrency/@technicaltrader/bitcoin-btcusd-shorts-increasing-as-apex-approaching-squeeze-potential-but-confirmation-still-required

👍 scorer, technicaltrader, inwas797

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@scorer · Oct 11 '18

Nice opinion.

Btw, you can use Markdown syntax for links to look better.

> ```[Nice descriptive text](https://steemit.com/link/)```

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@technicaltrader · Oct 11 '18

Nice tip, thanks. Will do!

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