BTC is currently in a Bullish Pennant and a breakout here would have an upside target of $46k if it breaks out to upside successfully.
There are some key catalysts atm as Powell is giving a speech that is largely dovish at this very moment and could help BTC break out to upside of this current formation.
We just closed a 1H Bullish Engulfing candle with high volume (confirmation of candle's continuation intent) as well.
DXY has been puking the entire time Powell has been speaking too.
There are some key catalysts atm as Powell is giving a speech that is largely dovish at this very moment and could help BTC break out to upside of this current formation.
We just closed a 1H Bullish Engulfing candle with high volume (confirmation of candle's continuation intent) as well.
DXY has been puking the entire time Powell has been speaking too.
Comment:
Something to be aware of - there is a bearish hanging man candle on 1H timeframe that you should be aware of - typically if this occurs at the top of a big move, you should expect some short-term downside:
