BTCUSD Ascending Triangle
Updated
Price is converging upwards with flat overhead resistance. This shows that price is possibly being suppressed so that whales can accumulate, or general bullish buying power being stronger than bears right now. This is generally seen as a continuation pattern.
Target: 9400.
If it breaks down and confirms on the 4/6 hour, it could retest 6800s- 7000s.
Stop loss: 7200
Below the recent lowest wicks of the triangle.
Good R:R. You can buy on breakout or now, as we have already tested the bottom line 3 times and overall market sentiment is still strong, with many people putting fiat into BTC to buy alts.
Don't forget to leave a like! ;)
Target: 9400.
If it breaks down and confirms on the 4/6 hour, it could retest 6800s- 7000s.
Stop loss: 7200
Below the recent lowest wicks of the triangle.
Good R:R. You can buy on breakout or now, as we have already tested the bottom line 3 times and overall market sentiment is still strong, with many people putting fiat into BTC to buy alts.
Don't forget to leave a like! ;)
Note
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