BTCUSD (BITCOIN) - POSSIBLE PRICE ACTIONS

Bitcoin / US DollarBinance

Description

⋅ Mar 8, 2021 2:09 PM

ANALYSIS 🔎
- BTCUSD brokeout above the falling wedge's (FW) resistance from my previous analysis.
- Price action is printing an ascending triangle pattern (AT).
- An ascending triangle pattern is a bullish build up pattern, but this is bitcoin 😂.
- We could see an breakout or a breakdown.

POSSIBLE PRICE ACTIONS ENTRIES
- Uptrend : breakout above the ascending triangle's horizontal resistance (R1).
- Downtrend : breakdown below ascending triangle's inclined support.

TARGETS 🎯
- Uptrend : Horizontal resistance level (R2).
- Downtrend : Horizontal support level (S1).