H4 : A triangle pattern is in progress and currently BTC is trying to upside breakout the clouds. As you can see, once again, Mid Bollinger Band worked perfectly well in rejecting a downside breakout attempt. Therefore, I would suggest to watch two important level which will determine upcoming price action. UPSIDE : Downtrend line resistance which is also the top of the triangle pattern DOWNSIDE : Mid Bollinger Band A clear breakout of one of those 2 levels above mentioned should trigger an acceleration having in mind on the bullish side a retest of historical high first and then higher (triangle target being @ around 68000 ! On the other hand, a clear breakout of 57220 (MBB) would directly put the focus on the bottom line of the ongoing triangle pattern which is also the clouds bottom zone. Conclusion ; Watch carefully price action on shorter time frames to be able to act accordingly and efficiently.
Comment
BTC is still in this triangle pattern in progress; continue to watch carefully ongoing price action to catch a breakout (wait for confirmation, most of the time, breakouts are followed by a pullback in the opposite direction !), either on the upside or on the downside. Watch also shorter time frames in order to get early signal (s) for direction Have a nice weekend. Take care and please do not forget to like and follow if you find my analysis helpful for you.
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