BTCUSD: (Bullish) Triangle broken upwards/ Channel Up emerging.

The price has crossed the previous (recurring) Triangle pattern to the upside and has evolved into a Channel Up on 4H (RSI = 67.180, MACD = 45.700, Highs/Lows = 135.3859, BBP = 248.0620). So far it appears to be following a stable candle sequence which suggests that after a Higher High near the 4,300 Resistance it will seek a Higher Low close to 4,000. The Support zone remains at 3,500 - 3,650, below which Bitcoin resumes its 1M bearish trend while 4,850 - 5,000 is the Resistance zone above which it turns bullish. Keep in mind that the April fractal, which is an identical copy of the current candle sequence, extended as high as +55% after its -50% drop. So breaking above this extension suggests a behavioral pattern change. Our short term TP set is still 4,384 and 4,463.10 in extension.





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