Good morning guys,
Bitcoin is still forming the symmetric triangle on H4, which naturally has better odds to break upwards, than downwards. The targets of this symmetric triangle are similar to the max-targets of the older bullish Adam & Eve to the top and if we break this down (possibly after a false break-out) our main target would be around $10750. You would be able to see false & valid break-outs in either direction when the red marked levels on top and below the symmetric triangles are broken or declined.
Generally, this is a bullish setup, saying that Bitcoin is very famous for its surprises, thinking about possible stop-runs after break-out.
__________________________________________
Warm redards,
Neru
Bitcoin is still forming the symmetric triangle on H4, which naturally has better odds to break upwards, than downwards. The targets of this symmetric triangle are similar to the max-targets of the older bullish Adam & Eve to the top and if we break this down (possibly after a false break-out) our main target would be around $10750. You would be able to see false & valid break-outs in either direction when the red marked levels on top and below the symmetric triangles are broken or declined.
Generally, this is a bullish setup, saying that Bitcoin is very famous for its surprises, thinking about possible stop-runs after break-out.
__________________________________________
Warm redards,
Neru
Note
Bearish break-down of the triangle: Supports: $11.400 (needs to be bought back in the next 10mins), $10.750, $10.050
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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.