BITCOIN BITSTAMP:BTCUSD - Apr 9th, 2024 | ASCENDING TRIANGLE ON BITCOIN BUY/LONG ZONE (GREEN): $71000 - $83000 DO NOT TRADE/DNT ZONE 1 (WHITE): $68500 - $71000 DO NOT TRADE/DNT ZONE 2 (WHITE): $63000 - $68500 SELL/SHORT ZONE (RED): $52000 - $63000 Weekly: Bullish Daily: Bullish 4H: DNT The DNT zones are separated into two and can also be used to create...
A monumental move could happen at any time in these upcoming weeks. In this weekly chart of BITSTAMP:BTCUSD , the historic triangle or the apex dating back from 2013 is nearing an end. This upcoming month should be a decisive point for the coin, and we should be mindful of it. From a technical analysis perspective, the triangle consists of a nearly two-year-old...
Bitcoin in a weekly time frame can be seen a compression and we can have three scenarios By drawing Fibo in the recent wave, we can see its correction and now it is on strong support, and if it is supported, we can expect the upward trend to continue. If the support is broken, we can consider the trend to be downward, and if the price decreases to the support...
The triangle we all been looking at has shown to be very reliable for the last 10+ days. 1D, 4H and even 1h candles all closed within the triangle and bounced perfectly off the support of the triangle. We’re still bullish and I personally think we will go up from here to 50k.
BTC loves triangle breakouts. But its known for a good fake out too, so I have laid a few possible scenarios of reasonable probability. Use RSI for guidance, and watch for bullishness above 50. This is not trading advice.
BTC Broken Weekly Triangle Resistance
4 hour divergence in progress, and this run has same characteristics than previous one. likely to retest $6400 and $6200 after this top at $6950/$7020