BTCUSD - H4 - TRIANGLE IN PROGRESS- 2 SCENARIOS !
H4 : Within the broadening wedge formation a triangle formation is is progress !
Scenario A :
Upside breakout would open the door for the 58000 area or retest of former high.
A failure to hold above TS @ 50575 ahead of MBB @ 49554 would invalidate the upside potential breakout
and put the focus on the following scenario.
Do not rule out also a potential BULL TRAP with a double top pattern in H4 !!!
Scenario B :
A breakout of MBB support line would then put the focus on the clouds support zone
and a failure to hold above the clouds would open the for door for lower levels towards the 42000 area
Watch H1 where there is still a Head and Shoulder formation in progress to get clues about
validation or invalidation of this triangle breakout
Scenario A :
Upside breakout would open the door for the 58000 area or retest of former high.
A failure to hold above TS @ 50575 ahead of MBB @ 49554 would invalidate the upside potential breakout
and put the focus on the following scenario.
Do not rule out also a potential BULL TRAP with a double top pattern in H4 !!!
Scenario B :
A breakout of MBB support line would then put the focus on the clouds support zone
and a failure to hold above the clouds would open the for door for lower levels towards the 42000 area
Watch H1 where there is still a Head and Shoulder formation in progress to get clues about
validation or invalidation of this triangle breakout
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