Ascending triangle formation in BTC. Look for 1 more touch in the $9335 region and possibly one more touch in the diagonal ascending line forming the bottom of the triangle. After that price target of $9800. Additionally, we are seeing hidden bullish divergence on the higher low price and lower low RSI.
Comment:
Playing out nicely so far. After we see a retest and hold of the ascending diagonal trend line I will take 1/3rd position long, then an additional 1/3rd at the 4h break and close of the $9330 horizontal line, then remaining 1/3rd if we see a retest of that horizontal line from above.
Comment:
Target hit and broke in convincing manner. Moving stop loss up. Breaking $9800 was an important one. Now looking for RSI to work up to upper 80s on daily timeframe, probably around $11,500 mark over the coming days/week.