BTC Tightening Range - Breakout Ahead
Weekly Bullish Market Structure has been maintained.
- A full 100% retrace has occurred and support has been respected
Moving Averages are squeezing together and price action is getting tighter and tighter within Descending Triangle price pattern.
(consolidation pattern)
There are SEVERAL wicks showing Seller's Exhaustion by the Weekly Support area.
___
Price is near support and an excellent risk / reward opportunity is present. So far, price on the Daily timeframe is also bullish as far as market structure and H4 trend is transitioning into a Bullish Trend. For a long, stops would go below the Descending Triangle price pattern. TP would variable, as long a bullish market structure is maintained on the Daily/Weekly timeframe the orders could still be held to maximize profits.
- A full 100% retrace has occurred and support has been respected
Moving Averages are squeezing together and price action is getting tighter and tighter within Descending Triangle price pattern.
(consolidation pattern)
There are SEVERAL wicks showing Seller's Exhaustion by the Weekly Support area.
___
Price is near support and an excellent risk / reward opportunity is present. So far, price on the Daily timeframe is also bullish as far as market structure and H4 trend is transitioning into a Bullish Trend. For a long, stops would go below the Descending Triangle price pattern. TP would variable, as long a bullish market structure is maintained on the Daily/Weekly timeframe the orders could still be held to maximize profits.
Note
In summary: details from Technical Analysis currently show more bullish details vs bearish details
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.