BTC - H1 - TRIANGLE IN PROGRESS - IMPLICATIONS +/- 4763 !
H1 : Recent price action is triggering a triangle formation in progress, above the clouds
A BREAKOUT CONFIRMATION WOULD IMPLY A MOVE OF 4'763 PTS
1) Bullish scenario
Upside breakout + 4763 would give a target @ around 47'000
2) Bearish scenario
Downside breakout + 4763 would give a target @ around 35'650
Watch carefully the MBB level, currently @ 40'795, which is slightly above
the triangle support line.
A breakout of that level on H1 closing basis would be the first signal calling for
a downside triangle breakout.
Check shorter time frame to get early additional signal (s) information.
Have a nice trading day
All the best
Take care
Ironman8848
A BREAKOUT CONFIRMATION WOULD IMPLY A MOVE OF 4'763 PTS
1) Bullish scenario
Upside breakout + 4763 would give a target @ around 47'000
2) Bearish scenario
Downside breakout + 4763 would give a target @ around 35'650
Watch carefully the MBB level, currently @ 40'795, which is slightly above
the triangle support line.
A breakout of that level on H1 closing basis would be the first signal calling for
a downside triangle breakout.
Check shorter time frame to get early additional signal (s) information.
Have a nice trading day
All the best
Take care
Ironman8848
Update follow in a new analysis