Bitcoin: Triangle Update 4H
Hey everyone, CoinSavvy here and I hope you are all doing great at whatever hour it is you’re reading this Bitcoin price update!
This is a 4 hour chart with a 21 ema (white line) - coming in around $9,080 as of right now.
Bitcoin is trading within this triangle formation I have drawn here.
It also has not closed below the 21 ema in 9 days.
If Bitcoin closes below the 21 ema then I could see price action find its way down to $8,500 to fill the gap on the CME’s and that would be a buy for me as the long term term uptrend would still be in tact.
However if Bitcoin continues closing above the 21 ema then I see us testing the top of this triangle around $9,350 within the next day or two and possibly break out to those 10k-112K targets we spoke about in previous posts.
You can see the wicks that tried going below the 21 ema all being bought up yesterday, this is bullish to me.
Also some of the medium time frames are starting to look a little more bullish and the 12 hour is looking a lot better.
Daily, 2 day, 3 day, weekly and monthly are lookin very bullish so if trading isn’t your thing but you’re still into this then I would start DCA’ing (dollar cost averaging) into this thing as it is a very bullish chart long term.
Coin Savvy, signing off. Enjoy your night, enjoy the charts, and respect the technical analysis.
This is a 4 hour chart with a 21 ema (white line) - coming in around $9,080 as of right now.
Bitcoin is trading within this triangle formation I have drawn here.
It also has not closed below the 21 ema in 9 days.
If Bitcoin closes below the 21 ema then I could see price action find its way down to $8,500 to fill the gap on the CME’s and that would be a buy for me as the long term term uptrend would still be in tact.
However if Bitcoin continues closing above the 21 ema then I see us testing the top of this triangle around $9,350 within the next day or two and possibly break out to those 10k-112K targets we spoke about in previous posts.
You can see the wicks that tried going below the 21 ema all being bought up yesterday, this is bullish to me.
Also some of the medium time frames are starting to look a little more bullish and the 12 hour is looking a lot better.
Daily, 2 day, 3 day, weekly and monthly are lookin very bullish so if trading isn’t your thing but you’re still into this then I would start DCA’ing (dollar cost averaging) into this thing as it is a very bullish chart long term.
Coin Savvy, signing off. Enjoy your night, enjoy the charts, and respect the technical analysis.
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