BTC USD BITCOIN SYMMETRICAL TRIANGLE UPSIDE BREAK TARGET $32K
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BITCOIN is in a symmetrical triangle pattern and is testing the upper resistance of the triangle. A lot of times these formations are continuation patterns which would mean more downside. Sometimes though these break to the upside and I think that is what is happening here. The MACD, RSI and Accumulation/Distribution indicators on the daily time frame and leaning bullish so a break to the upside is probable. The measured move of the breakout will be 26.5k to
27K, however I think we will blast through that and go all the way to about 32k where we have some good resistance. If we break past 32.5k and close at least a 4 hour above it then a move to 40k is likely and then we will revisit. This is not financial advice, this is just my opinion. Thank you
BITCOIN is in a symmetrical triangle pattern and is testing the upper resistance of the triangle. A lot of times these formations are continuation patterns which would mean more downside. Sometimes though these break to the upside and I think that is what is happening here. The MACD, RSI and Accumulation/Distribution indicators on the daily time frame and leaning bullish so a break to the upside is probable. The measured move of the breakout will be 26.5k to
27K, however I think we will blast through that and go all the way to about 32k where we have some good resistance. If we break past 32.5k and close at least a 4 hour above it then a move to 40k is likely and then we will revisit. This is not financial advice, this is just my opinion. Thank youNote
Note
Note
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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.