BTCUSD Technical Analysis Breakout imminent
Updated
Based on the triangle's forming and local support areas, and the martin trendline indicator on the 4hr timeframe we are still bullish But will need to post chart screenshots to explain further.
TLDR; Looks like we're going to 68/6900 quickily.
TLDR; Looks like we're going to 68/6900 quickily.
Note
3HR Chart RSI and OBV trending up with martintrendline candles showing bullishing breakout likely.Note
2HR Timeframe trend in OBV and RSI more nmoticeable, more solid green candles on martin trndline in the oval highlight areas.Note
1HR Timeframe shows even more solid green candles lately, when seen inside the triangle points to a break upwards. As with most of the charts the highest volume spikes in the oscillator are around bullish movements.Trade active
30M Time frame shows very strong bullish pressure on with the martin trendline indicator. Id say long here to 6800 area maybe a small pull back to the lower triangle support. could go either way though. tight stop losses at $6484.Note
Note
Similar action to the last restest of the top of the parallel formed from the peak in December. Retest of the big triangle formed by the ATH. Note
Note
Looking like this is invalidNote
Still can't tell if this is gonna go up or down.Trade closed: target reached
Went a smidge higher than i tought, touched $6850. Not sure how sustainable this rally is but id say we see at least a test of 7000 area.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.