BTC - H4 - TRIANGLE PATTERN IN PROGRESS !

19 мар. 2021 г.

H4 : A triangle pattern is in progress and currently BTC is trying
to upside breakout the clouds.
As you can see, once again, Mid Bollinger Band worked perfectly
well in rejecting a downside breakout attempt.
Therefore, I would suggest to watch two important level which will
determine upcoming price action.
UPSIDE : Downtrend line resistance which is also the top of the triangle pattern
DOWNSIDE : Mid Bollinger Band
A clear breakout of one of those 2 levels above mentioned should trigger an acceleration
having in mind on the bullish side a retest of historical high first and then higher (triangle
target being @ around 68000 !
On the other hand, a clear breakout of 57220 (MBB) would directly put the focus on the bottom
line of the ongoing triangle pattern which is also the clouds bottom zone.
Conclusion ; Watch carefully price action on shorter time frames to be able to act accordingly and efficiently.

20 мар. 2021 г.

Заметка

BTC is still in this triangle pattern in progress; continue to watch carefully ongoing price action to catch a breakout (wait for confirmation, most of the time, breakouts are followed by a pullback in the opposite direction !), either on the upside or on the downside.
Watch also shorter time frames in order to get early signal (s) for direction
Have a nice weekend.
Take care and please do not forget to like and follow if you find my analysis helpful for you.