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Bitcoin / TetherUS
Long
Updated

Breakout is imminent

125
Ascending triangle condensing the range, since the preceding price action is bullish a violent move towards the upside as it breaks short stops expected. It is likely that the gains will be retraced though in the 9500 - 9100 range.
Note
Well I obviously got the breakout imminence right, but the direction wrong :) I had a previous bias towards downward re-test as per
8920 for a long order, near term short
 and that order triggered now, Let's look at the new state of the world: snapshot 8690 is likely given the momentum, there is some techincal damage done on the 4H/1D chart as well, but as long as 8400 - 8500 holds the recovery is still in sight a break below would 8300 would probably open the door to 7500. Im sidelined for now seeing how the consolidation works out on the current level.
Note
Note to self: regardless of ascending triangle if volume/momentum divergence is present, do not bet on the upside: snapshot
SubZero
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Triangle

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Triangle
SubZero
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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.