Bitcoin: Breakout from Triangle Will Show Direction

If we look at the 4H timeframe, we will see a clear triangle chart pattern. The price has been moving sideways in the borders of the triangle, and the breakout will show us a direction for a further market movement.

The breakout below the bottom line will open the road toward SMA200 and 30 000$. The price action at this support will be able to provide us interesting buying opportunities.

The breakout above the upper line will confirm a further upward movement toward the ATH.

I think we will see the breakout 20 of January as there will be news from the USA. Before it, the price will follow the borders of the chart pattern.



Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.