Based of my analysis on the 4h and even the D daily timeframe, it seems that the BTC is currently forming a ascending triangle pattern (which more likely to breakout to the upside). And if it does a breakout, it should have a technical price target of 54.4k but, as always we need to see a surge in volume and a close above the horizontal line in either the 4hr or the D daily timeframe. This just my opinion and not financial advise, and as always happy trading guys!!
Note
based on the recent feedbacks on my idea, I should've told you guys that I drew the pattern on the daily timeframe, and there the candle just wicked above the horizontal line and closed barely above it.
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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.