BTCUSD - The End of the Downtrend?

30 בספט׳ 2021

After days of a downtrend since the huge dumps, we are finally seeing some strength with BTC. We seem to be breaking out of a descending triangle which is usually a bearish pattern. We need to close a 4h/daily candle above the resistance of the descending triangle to confirm the breakout. Volume is fair but I'd like to see more come in for this reversal to happen. We are also above the EMA ribbon on the 4-hourly and just about to retest it on the daily. Lots of indicators showing the strength, we just need to keep this momentum. My short-term price target of this descending triangle breakout is between 47-48k. Of course with more upside if we reach there.

Thoughts?