SYMMETRICAL TRIANGLE BREAKOUT FORMING
Bitcoin / U.S. dollar BITSTAMP:BTCUSD
Afternoon frends,
I hope you are all well.
BTC has formed a symmetrical triangle on the 4H chart.
There has been a slight retracement back to the Resistance turned support @ 44.2K
I’m expecting this zone to hold, printing a third touch of the triangle and a breakout to the upside:
Target @ 51-52K which would also complete the impulsive move to the 1.618 fib level.
A daily close below 44K and I’ll be looking for shorts but until then I’m looking for bullish price action.
Thank you for taking your time to read my analysis.
have a great day
Cheers,
Prince
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