Looking at the Daily and 4-hour charts for BTC, we can see multiple bullish formations unfolding.
An inverse head and shoulders - daily
A cup and handle - daily
An ascending triangle - daily
Price action looks strong, as we’ve begun the breakout from the neckline on the inverse H&S, as well as the cup and handle and ascending triangle simultaneously, and momentum is building fast.
Also, on the 4-hour chart, there’s a pretty substantial bull pennant taking shape. A breakout here could be the next leg up, and the push needed to keep momentum alive.
Zooming out, when we apply the trend-based Fibonacci extension, it reveals a $131,000 golden pocket, on both the the daily as well as the 4 hr. And that could be a major upside target if these bullish structures hold.
Stay tuned to see if BTC continues its move and sets a new all-time high.
An inverse head and shoulders - daily
A cup and handle - daily
An ascending triangle - daily
Price action looks strong, as we’ve begun the breakout from the neckline on the inverse H&S, as well as the cup and handle and ascending triangle simultaneously, and momentum is building fast.
Also, on the 4-hour chart, there’s a pretty substantial bull pennant taking shape. A breakout here could be the next leg up, and the push needed to keep momentum alive.
Zooming out, when we apply the trend-based Fibonacci extension, it reveals a $131,000 golden pocket, on both the the daily as well as the 4 hr. And that could be a major upside target if these bullish structures hold.
Stay tuned to see if BTC continues its move and sets a new all-time high.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.