BTCUSDT Chart Analysis: Bullish Momentum Building Towards Higher
Hi there,
A look at the BTCUSDT chart at the 3 hourly time frame, we notice a price movement from the 40465.86 support line to high 1 to low 2, and the 2 was not broken by the high (A) forming a ll that is a hl to the retracement of 1.
This indicates a bullish pressure at work in the 42K area and, with it, a bullish trend.
(A) is, therefore, the high of 1 over a bullish trend, and for that reason, a higher high of (A) is expected. For the break of (A), 45452 is the first target, and the continuation of 1 should potentially find the area level of 48017 as a bias.
Happy Trading
K.
A look at the BTCUSDT chart at the 3 hourly time frame, we notice a price movement from the 40465.86 support line to high 1 to low 2, and the 2 was not broken by the high (A) forming a ll that is a hl to the retracement of 1.
This indicates a bullish pressure at work in the 42K area and, with it, a bullish trend.
(A) is, therefore, the high of 1 over a bullish trend, and for that reason, a higher high of (A) is expected. For the break of (A), 45452 is the first target, and the continuation of 1 should potentially find the area level of 48017 as a bias.
Happy Trading
K.
Trade closed: target reached