Breakout Confirmation:
MACD and RSI (not visible but assumed important):
Price Targets:
Summary:
Careful monitoring of volume, breakout confirmation, and subsequent price action will be essential for executing a trade strategy.
- A breakout above $92,000 with high volume would confirm the bullish continuation. Conversely, a break below $88,000 would signal bearish pressure.
MACD and RSI (not visible but assumed important):
- Look for a bullish crossover on MACD or RSI climbing above 50 for upward momentum.
Price Targets:
- If the breakout is upward, targets could range between $95,000 and $100,000, based on the triangle's measured move (distance from base applied to breakout point).
Summary:
- Bullish Bias: The overall trend and symmetrical triangle pattern suggest potential for an upward breakout.
- Bearish Risk: A break below $88,000 would negate the bullish scenario and could lead to a retest of lower support levels, such as $84,000.
Careful monitoring of volume, breakout confirmation, and subsequent price action will be essential for executing a trade strategy.
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.
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.