BTC Bull Flag/Ascending Triangle - BTC to $65,000!
Hello Cryptonaughts!
How is this bull run treading you? Pretty damn epic, eh!?
I'm currently incredibly bullish on BTC! The technicals, fundamentals, and on-chain analysis are all incredibly bullish!!!
Technically, we can see BTC printing an ascending triangle. This is typically a bullish continuation pattern!
Further, pretty much daily, we see bullish articles in the news for adoption! VISA, Master Card, Paypal, Morgan Stanley, and many, many more are all getting in on crypto this cycle!
Lastly, the BTC hash rate and the total number of transactions on the blockchain has been on a constant increase!
Ascending Triangle
Diving into the technical side, we can see that the yellow 4H 21EMA has been holding as support for the ascending triangle. As long as 4H candles are closing above the 21EMA, I am short, medium, and long-term bullish on BTC!
If price closes 4H below the range low around $45,000, then I would be looking for a move down to the next support zone around $43,000.
If price closes 4H below support at $43,000, then I will be looking for a pullback down to the $38,000 - $40,500 range (between the 0.5 and 0.382 Fibonacci levels).
Volume is confirming the pattern formation:
BTC Weekly Fibonacci Extensions
As far as weekly Fibonacci extensions go, we can see that BTC has broke through the 1.618 Fib, then found support there. Moving forward, I suspect BTC will blow through the 2.618 Fibonacci extension and work its way up to the 4.618 Fibonacci extension at $65,500!
BTC Bull Flag
Taking a look at the 2D, it appears BTC is forming a bull flag. The measured move for this flag takes price to $67,800, which is a little higher than the weekly 4.618 Fibonacci extension.
Follow us now to stay posted with TA on the hottest cryptos!!!
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Guide to My Charts
-The purple lines are support/resistance 'zones'. If price pierces though one side of the support/resistance zone, it is likely to head to the next support/resistance zone!
-Yellow lines are typically used to chart out pattern formations and trend lines!
-The colored lines are MAs (Red: 10SMA, Yellow: 21EMA, Green: 55EMA, Blue: 89EMA, Purple: 200EMA, White: 200SMA, Maroon: 377EMA).
-Horizontal white and green lines may be Fibonacci levels. The 0.382 and the 0.618 Fibs are green and the rest are white.
-The Historical Volatility Percentile, RSI , and/or stochastics indicators are below the chart if displayed.
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Please smash the like and comment if you find value in this post! It helps show me that others are interested and motivates me to share more with the community!
---
Disclaimer:
This is not financial advice; I am not a financial adviser. This information is not meant to be used for financial advice, nor trade ideas. These posts are simply a record of my technical analysis and potential trade setup ideas.
These posts are intended for educational purposes only. It is imperative that everyone conduct their own research prior to entering any trade.
How is this bull run treading you? Pretty damn epic, eh!?
I'm currently incredibly bullish on BTC! The technicals, fundamentals, and on-chain analysis are all incredibly bullish!!!
Technically, we can see BTC printing an ascending triangle. This is typically a bullish continuation pattern!
Further, pretty much daily, we see bullish articles in the news for adoption! VISA, Master Card, Paypal, Morgan Stanley, and many, many more are all getting in on crypto this cycle!
Lastly, the BTC hash rate and the total number of transactions on the blockchain has been on a constant increase!
Ascending Triangle
Diving into the technical side, we can see that the yellow 4H 21EMA has been holding as support for the ascending triangle. As long as 4H candles are closing above the 21EMA, I am short, medium, and long-term bullish on BTC!
If price closes 4H below the range low around $45,000, then I would be looking for a move down to the next support zone around $43,000.
If price closes 4H below support at $43,000, then I will be looking for a pullback down to the $38,000 - $40,500 range (between the 0.5 and 0.382 Fibonacci levels).
Volume is confirming the pattern formation:
BTC Weekly Fibonacci Extensions
As far as weekly Fibonacci extensions go, we can see that BTC has broke through the 1.618 Fib, then found support there. Moving forward, I suspect BTC will blow through the 2.618 Fibonacci extension and work its way up to the 4.618 Fibonacci extension at $65,500!
BTC Bull Flag
Taking a look at the 2D, it appears BTC is forming a bull flag. The measured move for this flag takes price to $67,800, which is a little higher than the weekly 4.618 Fibonacci extension.
Follow us now to stay posted with TA on the hottest cryptos!!!
---
Guide to My Charts
-The purple lines are support/resistance 'zones'. If price pierces though one side of the support/resistance zone, it is likely to head to the next support/resistance zone!
-Yellow lines are typically used to chart out pattern formations and trend lines!
-The colored lines are MAs (Red: 10SMA, Yellow: 21EMA, Green: 55EMA, Blue: 89EMA, Purple: 200EMA, White: 200SMA, Maroon: 377EMA).
-Horizontal white and green lines may be Fibonacci levels. The 0.382 and the 0.618 Fibs are green and the rest are white.
-The Historical Volatility Percentile, RSI , and/or stochastics indicators are below the chart if displayed.
---
Please smash the like and comment if you find value in this post! It helps show me that others are interested and motivates me to share more with the community!
---
Disclaimer:
This is not financial advice; I am not a financial adviser. This information is not meant to be used for financial advice, nor trade ideas. These posts are simply a record of my technical analysis and potential trade setup ideas.
These posts are intended for educational purposes only. It is imperative that everyone conduct their own research prior to entering any trade.
Comment:
If price breaks down below the triangle, then I could see something like this playing out.
Comment:
Here is a buy me 0.618 Fibonacci zone. I'll be looking to be a buyer here!
Comment:
