Ascending triangle on the 4h chart looking for a break out
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BTC formed a wonderful ascending triangle (mostly bullish pattern) on the 4h chart. Additionally we have a bullish crossover of the 21 EMA (purple line) and the 50 MA (bluish line). It is currently having its 3rd touchpoints with the upper line of the triangle. A break out is imminent, my 2 sats say it's going to be the upside, as we have put in a nice round bottom in the days before.
Things could go quicker and we could see a break out in the next hours. But as I know BTC, it loves to almost come to the very end of a pattern formation before breaking out. If you are trading this pattern, my recommendation for the first take profit (TP_1) would be around the 100 MA (green line) and then take it all the way up to the 200 MA (orange line) for your second take profit (TP_2). After touching the 100 and 200 MAs I could see us respecting and reacting to this levels before continuing our way up.
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Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.