BTC (Ascending Triangle)
Bitcoin / TetherUS BINANCE:BTCUSDT
Blooming updates on BTC , we have a massive ascending triangle for BTC on the hourly. We got a nice bounce off right at the bottom support. Using Elliot wave theory and wave analysis is applied as this could be a one possible outcome. Which is Wave F and the technical target we have is around 52K ish BTC . Overhead resistance 45k zone as mark on my charts (blue rectangle ). Bullish pattern . Now for some bearish scenario. BTC could potential roll over, and break down of pattern, which might be a bear trap, unless we lose the support of Fib0.236(37595.39) and the candle close below this. Then it’s a clear signal for down trend.
BTC 1H
