This published analysis is a further follow-up from my previous analysis, with the breakout now confirmed:
BTC have confirmed the breakout of the yellow sym triangle on the hourly. With TD approaching a 9 again, probably, it will come down to retest the top if the sym triangle again and hopefully bounces off, confirming a retest on a higher timeframe (e.g. on the 3 or 4 hourly chart). Thick bullish ichicloud advancing higher which will provide further upward support.
My re-entry into my BTC trade was at ~36.5k USD during the retest after the breakout of the inverse head-and-shoulder.
BTC breaking below into the yellow sym triangle again will confirm a fakeout instead, where a bearish continuation to breakdown below the sym triangle as a follow-up will become highly likely -- with the first bearish target at the 32.3k USD weak support (which will very likely fail). Will exit my alts trades as well in the event of this coming through.
The earlier inverse head&shoulder target of ~39.8k USD have already been fulfilled. Next bullish target for BTC to test is the 38.2% fib retracement level at ~41.8k USD, followed by 46.5k USD. As usual, I'm playing it level by level.
Current stoploss set at ~38k USD where the previous hourly high was at, and will continuously be updated accordingly.
Won't touch my BTC/ETH hodling stash regardless.
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Currently retesting the top of the sym triangle on the 3hrly:
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BTC successful retest of the top of the sym triangle as support, and continues to be supported above the red 21 EMA:
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BTC closed back into the sym triangle, now supported by the thick ichicloud on the hourly.
These high volume bearish push appears to be manipulation to me... with the final candle being managed to be pushed below the top of the sym triangle.
Will it turn out to be simply a wick down below trigger people's stops on the higher timeframes? The bullish ichicloud presently cushioning the fall is thinning ahead as well on this timeframe.
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BTC closes back within the sym triangle on the 4 hourly, however, appears to be supported by the red 21 EMA atm, instead of a violent cascade down to the bottom of the sym triangle. So long as BTC remains supported by the 21 EMA on the 4hrly, there may still be a chance for it to recover above the sym triangle by the daily candle close, with the ichicloud turning bullish in this timeframe. So far, BTC is still in a higher high and higher low trend in this timeframe as well. But need to be cautious now, and set stop losses accordingly.
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Another way to re-draw the triangle for the bulls clinging on to that last bit of hopium for any remaining bags still being held on to: ..stop-loss to be set close below the red dotted line..