Bitcoin in triangle before halving, levels to watch

23 apr 2020

Right now the price stucks in a triangle.

There is nothing to say about the outcome because the coming halving.

But for me is it a long by a breaking the upper level.
short by breaking the lower level.

We can calculate what the targets will be, but I'll not do it because the uncertain situation. But my feeling is it go to 10k by breaking the upper level. For now it is a no trading zone.

23 apr 2020

Nota

The end of the triangle is around 28 april. The halving is around 10 may. So there are +/- 10 days between the end of the triangle en the begin of the halving.

With the halving in mind the best scenario will be a big drop before the halving. So around 28 april. The bulls can buy btc for a low price. After that the price can be sky high after the halving

23 apr 2020

Nota

I really believe the whales are unfolding this plan

23 apr 2020

Nota

That circle I made is not the exact area of breaking out ofcourse. Screenshot below gives a better picture of outbreak zones

23 apr 2020

Nota

That was a textbook break out. The 4hr candle after breaking out finds support on the previous resistance, tested with succes (upper level of triangle). Now we needs volume otherwise it could be a bulltrap and will unfortunately go back to triangle and after that breaking the lower level of the triangle.

If volume will increase it will test the horizontal resistance line at 7500.

23 apr 2020

Nota

Already testing with a bullflag. breaking 7800 now will be big bullish signal

29 apr 2020

Nota

great. now check if it holds the 7800/7900 support