Bitcoin Ready for "Breakout"
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Since June 18, 2022, BTC trades in a higher high, higher low structure. In the recent trend we can observe that BTC has been forming Ascending Triangle Structure.
The above chart of BTCUSDT laid out the ascending triangle pattern. The ascending triangle is a characteristic pattern of an ongoing bullish trend. This triangle is formed by a horizontal upper trendline that connects the highs and a lower trendline that connects the rising lows.
If the current price action breaches the resistance level of $24700, BTCUSDT will enter a bullish trajectory to reach its target at $28200.
Currently, BTCUSDT is at $23840. If the pattern continues, the price of BTCUSDT might reach the resistance level of $28200 If the trend reverses, then the price of BTCUSDT may fall to $22400
Short Note :
Breakout Level : $24700
Target : $28200
Stop Loss : $22400
Happy Trading
The above chart of BTCUSDT laid out the ascending triangle pattern. The ascending triangle is a characteristic pattern of an ongoing bullish trend. This triangle is formed by a horizontal upper trendline that connects the highs and a lower trendline that connects the rising lows.
If the current price action breaches the resistance level of $24700, BTCUSDT will enter a bullish trajectory to reach its target at $28200.
Currently, BTCUSDT is at $23840. If the pattern continues, the price of BTCUSDT might reach the resistance level of $28200 If the trend reverses, then the price of BTCUSDT may fall to $22400
Short Note :
Breakout Level : $24700
Target : $28200
Stop Loss : $22400
Happy Trading
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