BitcoinUpdated BTC - H1 - TRIANGLE IN PROGRESS - IMPLICATIONS +/- 4763 !
H1 : Recent price action is triggering a triangle formation in progress, above the clouds
A BREAKOUT CONFIRMATION WOULD IMPLY A MOVE OF 4'763 PTS
1) Bullish scenario
Upside breakout + 4763 would give a target @ around 47'000
2) Bearish scenario
Downside breakout + 4763 would give a target @ around 35'650
Watch carefully the MBB level, currently @ 40'795, which is slightly above
the triangle support line.
A breakout of that level on H1 closing basis would be the first signal calling for
a downside triangle breakout.
Check shorter time frame to get early additional signal (s) information.
Have a nice trading day
All the best
Take care
Ironman8848
A BREAKOUT CONFIRMATION WOULD IMPLY A MOVE OF 4'763 PTS
1) Bullish scenario
Upside breakout + 4763 would give a target @ around 47'000
2) Bearish scenario
Downside breakout + 4763 would give a target @ around 35'650
Watch carefully the MBB level, currently @ 40'795, which is slightly above
the triangle support line.
A breakout of that level on H1 closing basis would be the first signal calling for
a downside triangle breakout.
Check shorter time frame to get early additional signal (s) information.
Have a nice trading day
All the best
Take care
Ironman8848
Note
Triangle target @ 35'650 filled (intraday low being (so far !) 33'520...Update follow in a new analysis
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Related publications
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.