BTC - H4 - TRIANGLE PATTERN IN PROGRESS !
Actualizado
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.
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.
Nota
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.
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