BTCUSD breaks through the 4H TF consolidation zone
In the previous article, we mentioned the BTCUSD daily TF hidden inverse head and shoulder pattern.
We have recognized the inverse head and shoulder because the drop has reached the point of satisfaction, and the W bottom reversal pattern has come out previous.
The current trend can be found in the BTC consolidating in the 4H TF EMA ribbon.
And earlier broke the key resistance Fibonacci 0.618 8381 resistance,
the target price range between 0.786 8569 and the previous high 1 8809 has a key indicator.
Daily line MA200 (MA1200 in the 4H TF), you can see that it is also the location of the daily 200MA, which is also the neckline of the inverse head and shoulder.
It is recommended that investors who have long position at 8000-8300 below can continue to hold when BTC break through the daily TF of 200MA.
There is still a target above Fibonacci 1.272 9113
Recently, the number of large and over 1000 BTC addresses has continued to climb up.
Referring to the history, it is a preparation action before the big move.
While the volume of BAKKT continues to climb up and the United States begins to dominate the cryptocurrency market,
a new bull run is just around the corner.
We have recognized the inverse head and shoulder because the drop has reached the point of satisfaction, and the W bottom reversal pattern has come out previous.
The current trend can be found in the BTC consolidating in the 4H TF EMA ribbon.
And earlier broke the key resistance Fibonacci 0.618 8381 resistance,
the target price range between 0.786 8569 and the previous high 1 8809 has a key indicator.
Daily line MA200 (MA1200 in the 4H TF), you can see that it is also the location of the daily 200MA, which is also the neckline of the inverse head and shoulder.
It is recommended that investors who have long position at 8000-8300 below can continue to hold when BTC break through the daily TF of 200MA.
There is still a target above Fibonacci 1.272 9113
Recently, the number of large and over 1000 BTC addresses has continued to climb up.
Referring to the history, it is a preparation action before the big move.
While the volume of BAKKT continues to climb up and the United States begins to dominate the cryptocurrency market,
a new bull run is just around the corner.
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