BITCOIN broke above the 4H MA50. Pattern shows +10% from here.

It is a Sunday update so I will keep it short. First it was the 4H MA200 (orange trend-line) that held, providing a strong Support (twice). Yesterday the strong bullish confirmation was delivered after Bitcoin broke above the 4H MA50 (blue trend-line) again.

During the current bullish leg since the September Low, there is a specific pattern showing that every time a set of conditions are fulfilled while the price breaks above the 4H MA50, BTC rises +10%.

So what are those conditions? On October 08, Bitcoin broke above the 4H MA50, while the RSI broke above its Lower Highs trend-line and the LMACD posted the biggest Bullish Gap in 15 days (roughly). Then what followed was a +10% rise. The same conditions were fulfilled on November 29. The price broke above the 4H MA50, the RSI broke above its Lower Highs trend-line and the LMACD posted the biggest Bullish Gap in 15 days. This posted a +10% rise.

Right now all those conditions are fulfilled so it remains to be seen if the pattern holds and BTCUSD tops at +10% from the break-out. This puts the High roughly around $20550. Of course this fractal analysis should not be used alone entirely, it may be beneficial to combine it with patterns from wider time-frames (e.g. 1D) in order to get a more thorough idea of where the price can go.

Do you think this break-out can deliver a +10% rise? Feel free to share your work and let me know in the comments section!

Please like, subscribe and share your ideas and charts with the community!

--------------------------------------------------------------------------------------------------------

!! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !!

🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> superkitty

--------------------------------------------------------------------------------------------------------