Lesson: BTC forming bullish rectangle?
Bitcoin / TetherUS BINANCE:BTCUSDT
BTC seems to be forming a bullish rectangle on the H4 chart, I will attach a photo in a comment below for reference. I have drawn out a couple lines for entries, sl and tp if this bullish flag plays out.
Bullish flag breakout generally moves the same ammount as the move before, in this case BTC jumped about 8%, so therefore we can expect another 8% jump if the H4 candle closes above the resistance line (Line 1).
I hope this helps, even if it doesn’t play out.
Please leave any questions:)
Trade safely
