BTCUSD triangle pattern is broken in a bullish pattern in its hourly movements.
Over the last hours its movements was chanalised and now the top of the chanel is broken and may go for the first pullback as it did face the first resistance point(marked in yellow).
>>If this bullish movment continue<< I marked some of the important resistance regions ahead (only based on the Ret-Fibo and previous highs).
Please keep in minde that you also need to consider all of the resistant points for the other patterns (e.g. it has several Pitch-fork patterns which is not shown here)
Over the last hours its movements was chanalised and now the top of the chanel is broken and may go for the first pullback as it did face the first resistance point(marked in yellow).
>>If this bullish movment continue<< I marked some of the important resistance regions ahead (only based on the Ret-Fibo and previous highs).
Please keep in minde that you also need to consider all of the resistant points for the other patterns (e.g. it has several Pitch-fork patterns which is not shown here)
Note
Note
The BTCUSD price movment had the puulback and is still on the support line of the triangle pattern (blue line in the above picture, transparent cyan in the bellow image).But in addition that triangel and the larger one (transparanet pink, bellow image), now it has a new triangle pattern (orange line bellow image)
Note
Note
The latest movment is still chanallised, which is also tranformed into a new chanell as shown bellow. The 4th valid contact is not confirmed yet, if it does, then it may reverse the downtrend to another uptrend to the top of the chanel and the new-orange- triangle :Note
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The movments are still Chanalised and within the new (orange ) and old (blue) triangles. However, note that in this pig picture (daily, weekly and monthly TFs) most of the predictions are toward bearish movments.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.