Long

RISING TRIANGLE BTC

Updated

We waited for Price to retrace to the 0.382 before considering any further upside movement. Price had a consolidation pattern with rising support and a flat resistance level- rising triangle. This uggests more upside movement. 0.618 at $10,5020 is the next area we need to get above and hold. The triangle should flip as support and a bounce up should occur.

Remember just my opinion.

Note

Price pushed slightly above the triangle and is now back testing as support. We should look for a bounce to the upside while remaining cautious due to lower positive momentum showing now on the 1H timeframe with MACD. One final push closer to the $10,500 level is possible before coming down.

Note

Bitcoin is testing $10,400 support for a second time. The chance of a swing failure pattern becomes more probable each time the support level is tested.

Note

BTC testing the the triangle as support a 3rd time at 10.4 area! last chance to make a bounce up! Next support is 10.2k

Note

The 15 minute chart is printing a bull flag/wedge. It seems more likely we have a move to 10.5

Not financial advice!

YEHOK

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.