58k next? Bullish sentiment growing for BTC - Update

Here's a quick look at BTC 4 hr chart. The price action has been forming an Ascending triangle - Watch for a break to the upside. If we break to the upside, the price is very likely to retest the 55k area, and if it breaks 55k we will be heading towards 58k which is a crucial area to break.

Note: RSI doesn't have much room to run before its in oversold territory. Keep in mind that the price is more likely to retrace when the price is oversold.

Ascending triangles are bullish patterns. 70% chance that it breaks to the upside.

Remember that BTC is very correlated to the big stocks such as Nasdaq, S&P 500 etc. Keep an eye on the stock market as well. if they fall, BTC will then follow.

Trade safe