Ascending triangle break out long term plan BTC
It seems current price action is forming ascending triangle with higher lows in all time frames up to 1d. The above is example in 4h, let's say if we break previous all time high that will be also break out for this pattern. One can open long position at previous all time high after pattern retest. And wait till fibbo level 1.618 from swing high-low from ATH.
Basically breaking above ATH will result confluence of fibbo retracement level(1.618), pattern breakout and price movement towards another strong psychological level of 50k.
Note: we still have danger of RSI weekly in highly overbought area and indeed ticking time bomb which may explode anytime, always keep eye on the 30k price level
Basically breaking above ATH will result confluence of fibbo retracement level(1.618), pattern breakout and price movement towards another strong psychological level of 50k.
- Entry Price: 41969$
- Stop Loss: 41088$
- Take Profit: 48973$
Note: we still have danger of RSI weekly in highly overbought area and indeed ticking time bomb which may explode anytime, always keep eye on the 30k price level
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