🔥 Bitcoin Short-Term Bullish Triangle: Break Out Soon?
Updated
In my previous two BTC analyses I've been fairly bullish on the potential for a reversal. As of this morning, a bullish/ascending triangle has appeared on the chart. Be aware that this is a short-term analysis which tries to capture a smaller move than my previous two analyses.
If you're confident that BTC will go up, now would be an ideal time to buy in, since the price is close to the triangle's support.
In case you're more risk averse, I'd wait until a close above the triangle resistance line before entering.
Target for the move is at $48,500, based at a recent local low.
Happy trading!
If you're confident that BTC will go up, now would be an ideal time to buy in, since the price is close to the triangle's support.
In case you're more risk averse, I'd wait until a close above the triangle resistance line before entering.
Target for the move is at $48,500, based at a recent local low.
Happy trading!
Note
Price seems to be falling rather quickly. The break-out above 47.5k is far away.
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