#Bitcoin : Rounded Top Possibility.
This triangle is the last hope for BTC atm
We fail to hold this support here then expecting 8600.
4HR Is nearly reset so keep that in mind, if we bounce we need to reclaim the 9150-9170 area pretty important macro support.
Theres also 4 touches on a rounded structure, Rounded structures on BTC breakout on the 5-7th touch, that means if we come up and respect the obvious curved structure we can start to look at that pattern. They can dump off from the circular resistance between the 5-7th touch or breakout upwards.
Rounded tops break upwards 70-80% of the time on the Bitcoin daily according to my backtests, i have yet to test the 4 HR. And i wont consider it valid until we get one more touch so just a thought.
We fail to hold this support here then expecting 8600.
4HR Is nearly reset so keep that in mind, if we bounce we need to reclaim the 9150-9170 area pretty important macro support.
Theres also 4 touches on a rounded structure, Rounded structures on BTC breakout on the 5-7th touch, that means if we come up and respect the obvious curved structure we can start to look at that pattern. They can dump off from the circular resistance between the 5-7th touch or breakout upwards.
Rounded tops break upwards 70-80% of the time on the Bitcoin daily according to my backtests, i have yet to test the 4 HR. And i wont consider it valid until we get one more touch so just a thought.
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