Here's a quick look at BTC 4 hr chart. The price action has been forming an Ascending triangle - Watch for a break to the upside. If we break to the upside, the price is very likely to retest the 55k area, and if it breaks 55k we will be heading towards 58k which is a crucial area to break.
Note: RSI doesn't have much room to run before its in oversold territory. Keep in mind that the price is more likely to retrace when the price is oversold.
Ascending triangles are bullish patterns. 70% chance that it breaks to the upside.
Remember that BTC is very correlated to the big stocks such as Nasdaq, S&P 500 etc. Keep an eye on the stock market as well. if they fall, BTC will then follow.
Trade safe
Note: RSI doesn't have much room to run before its in oversold territory. Keep in mind that the price is more likely to retrace when the price is oversold.
Ascending triangles are bullish patterns. 70% chance that it breaks to the upside.
Remember that BTC is very correlated to the big stocks such as Nasdaq, S&P 500 etc. Keep an eye on the stock market as well. if they fall, BTC will then follow.
Trade safe
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🔥 Unlock Lifetime Access to the Premium Trading Group – Just $129 for a lifetime membership!
🎖Telegram:
t.me/MBM_786kr 🎖
📩 Interested in our Premium Group?
DM @MBM786kr on telegram for full details!
🎖Telegram:
t.me/MBM_786kr 🎖
📩 Interested in our Premium Group?
DM @MBM786kr on telegram for full details!
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.