Triangle broken to upside will we reach the target ?
Hello Traders,
Since long time ago I drawed this symm. triangle on my chart, Now BTC broke it to the upside.
Today I want to discuss briefly, What is the possible moves for BTC
---
BTC was running into horizontal channel since 13-16 JUN 2022 that is mentioned on the chart with Green rectangles
Now BTC continued going narrower and narrower price movements to form the triangle then a break happened to the upside with quite good volume.
---
Now BTC is correcting the break and have only 2 options,
1- to bounce of the upward movement trend line (21100$)
2- bounce of the triangle trend line (20500-20600)
If this happen BTC will have the first target at 26500-26900, WHILE WE HAVE A CME GAP APPROXIMETILY AT 28500$
I am confused about it because as you see BTC got a rejection from the horizontal channel as it happened before.
---
Bearish scenario is to have a 4h close under 21500 or just get back into the triangle again.
---
Altcoins indicated a bull movement before BTC do it, as I mentioned in previous ideas on my profile.
Hope this helps !
Thumb up and follow for more
Have a nice day !!
Since long time ago I drawed this symm. triangle on my chart, Now BTC broke it to the upside.
Today I want to discuss briefly, What is the possible moves for BTC
---
BTC was running into horizontal channel since 13-16 JUN 2022 that is mentioned on the chart with Green rectangles
Now BTC continued going narrower and narrower price movements to form the triangle then a break happened to the upside with quite good volume.
---
Now BTC is correcting the break and have only 2 options,
1- to bounce of the upward movement trend line (21100$)
2- bounce of the triangle trend line (20500-20600)
If this happen BTC will have the first target at 26500-26900, WHILE WE HAVE A CME GAP APPROXIMETILY AT 28500$
I am confused about it because as you see BTC got a rejection from the horizontal channel as it happened before.
---
Bearish scenario is to have a 4h close under 21500 or just get back into the triangle again.
---
Altcoins indicated a bull movement before BTC do it, as I mentioned in previous ideas on my profile.
Hope this helps !
Thumb up and follow for more
Have a nice day !!
Trade closed: target reached
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