On the 4 hourly chart, a beautiful ascending wedge pattern is forming which is a bullish pattern.
Now, BTC is in a very tight range. It needs to breakout soon.
This pattern will probably take us to $8100ish level where we might see another retracement. A close above $8000 would strengthen the case for the bulls.
However, there have been many bull/bear traps taking place lately. Therefore i advise you to place optimal stop losses at $7495 which is the previous higher low. Whales just love to shock us from time to time :) No matter what, we have a bright future for cryptos!
Happy investing!
Now, BTC is in a very tight range. It needs to breakout soon.
This pattern will probably take us to $8100ish level where we might see another retracement. A close above $8000 would strengthen the case for the bulls.
However, there have been many bull/bear traps taking place lately. Therefore i advise you to place optimal stop losses at $7495 which is the previous higher low. Whales just love to shock us from time to time :) No matter what, we have a bright future for cryptos!
Happy investing!