FieryTrading

🔥 Bitcoin: Consolidation Expected - Triangle Analysis

Long
BINANCE:BTCUSDT   Bitcoin / TetherUS
Since the massive drop late last week, Bitcoin has been trading alongside a very important support line. A couple of hours ago, this support held yet again, and we saw a massive reversal from there.

For the coming 24 hours or so, I'm expecting the price to continue moving up. First major resistance will be the top of the triangle. This can potentially cause a reversal back towards the earlier mentioned support. Ideally, we will break out of this triangle and make a push towards the $55k.

Happy trading!

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