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Bitcoinbreakout

Bitcoin breakout from falling wedge patternYesterday , I posted that there was an inverted cup and handle pattern forming in 1H timeframe of BTC, but since we are in an uptrend since last week, the probability of inverted cup and handle pattern forming completely and breaking it's neckline, is quite low. Within the inverted cup, there was a falling wedge pattern and BTC broke out of that wedge an hour ago. I think it's safe to enter into a long side trade at the retest of wedge pattern with target1 as 42000 and target2 as 46000 .
Long
by KbL_
Bitcoin W-Bottom Bullish Breakout Long at 37.3K! Time Sensitive!Hi guys, this is OG back with another daily technical analysis on Bitcoin. If you enjoy these posts, please like and follow, and feel free to ask questions and share your ideas in the comments below. Today we are zooming in to the 15Min chart as I see a potential long trade setup. After the most recent rally, Bitcoin is having a small correction and have come down to the 200MAs on the 15Min chart. In this support zone, Bitcoin is forming a potential W-bottom, with the neckline at the 37.2-37.3K zone. If price breaks above this zone with a strong candlestick and strong volume, I will put in a long position, with stop loss below the 200MAs / swing low of 36-36.2K and targeting the recent highs of 38.5 as an initial take profit. Depending on the price action at that point, I will decide how much to take off the table and how much to keep in to target higher levels. Above the 38.5K level, we have 39.2K as a critical resistance level as it was the last major swing high, and price needs to break above that to start having a bullish reversal on the higher timeframes (4H and Daily). As always, I’m not a financial advisor, do your own research, and stay safe!
Long
by cryptotraderog
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