Below are some interesting observations that we'd like to share with our followers:
- Dual support coming in from 100EMA (Daily) and a validated up-trending line.
- Price consolidating in the Triangle means BTC could possibly be targeting ~14,500 - ~ 15,000 range - but we are yet to see a breakout in this case.
- Emergence of a tentative positive divergence between and Price on 240m chart
Considering the mentioned factors, we believe traders can capitalize on the triangle formation, as long as the range is not too narrow. Breakout buyers can wait for a proper confirmation before going long.
Exact levels on the chart.
*This trade is live for Ritoku followers*
We certainly like your thought process.