BitcoinPanjang
100 SMA IS KEY - $115,000 ?
As illustrated, we see price looking to dance with the 100SMA line in the 4H timeframe.
Should price close above it, it would have to hold as support in order to maintain the uptrend and make this a potential continuation impulse to break ATH.
It is key to see price hold at or above the 100SMA in order for this idea to be valid, and if it retraces back down again, it's important that the $92,000 - $91,000 price range holds as major support.
Should price continue to rise above and beyond the 100SMA, you should see bullish structures forming right on the SMA, such as: rising triangle, bullish flag, rising wedge, ascending triangle, or an inverted head and shoulders (more effectively in the 1H timeframe).
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GOOD LUCK!
Should price close above it, it would have to hold as support in order to maintain the uptrend and make this a potential continuation impulse to break ATH.
It is key to see price hold at or above the 100SMA in order for this idea to be valid, and if it retraces back down again, it's important that the $92,000 - $91,000 price range holds as major support.
Should price continue to rise above and beyond the 100SMA, you should see bullish structures forming right on the SMA, such as: rising triangle, bullish flag, rising wedge, ascending triangle, or an inverted head and shoulders (more effectively in the 1H timeframe).
--
GOOD LUCK!
Penafian
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