• Bitcoin is trapped between 18,271 and the downtrend line. The price movement formed a triangle pattern. Breaking out of this pattern could provide us with a clear direction and new trading opportunities.
• The 20,381 represents an upside obstacle as well. You must exercise careful because a false breakout in one direction may indicate a valid breakout in the opposite direction.
➥ CONCLUSION: A breakout to the upside from the current triangle, a new higher high, and a bullish close above 20,381 validate a new upward swing. This scenario encourages traders to go long.
Good Luck Traders!
• The 20,381 represents an upside obstacle as well. You must exercise careful because a false breakout in one direction may indicate a valid breakout in the opposite direction.
➥ CONCLUSION: A breakout to the upside from the current triangle, a new higher high, and a bullish close above 20,381 validate a new upward swing. This scenario encourages traders to go long.
Good Luck Traders!