BTC on the cusp of breaking out
Updated
BTC had a bullish break out of a bearish right angled triangle a few days ago. Now it is showing accumulation, on a smaller timeframe, against a minor resistance standing in its way from the next target. The accumulation is well shown by the 1h graph: https://www.tradingview.com/x/uA6NKxXt/
The stoploss is placed below the low of the accumulation phase as below that we believe that we could head to 42k should we invalidate this pattern.
The third target is the 0.618 golden retracement from the bull market high to the bear market low. Good luck!
The stoploss is placed below the low of the accumulation phase as below that we believe that we could head to 42k should we invalidate this pattern.
The third target is the 0.618 golden retracement from the bull market high to the bear market low. Good luck!
Note
We got stopped out unfortunately. We will reassess in the next few days, above 42k we remain bullish.Note
Already sprung back above the level. Keep a look out for 43300, if we backtest it as support then we are in the range again
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