4hr double bottom on BTCUSD looks near ready to trigger breakout
Not enough volume yet to call this a confirmation of the breakout but that wick retest as support on the current candle is encouraging. If it triggers we will probably test the resistance of the 200 daily ma next around 47.8 - 48k. The 4hr chart symmetrical triangle(not shown here) we broke up from a week or so ago has a measured move target somewhere near 49k if I remember correctly so this is only bullish confluence that increases the probability that we will not only be retesting the resistance of the 200ma soon but even sending a wick above it to reach that triangles target as well. Hopefully in the process we also can flip the 200 ma to support but I wouldn’t be surprised if it takes a slight retrace or 2 before we finally flip it to solidified support. We will soon find out. *not financial advice*
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