Hi traders
The purple ascending triangle was superseded by the green ascending triangle in 1H chart. But the resistance level is still the same at 11500.
In 4H chart, it seems like BTC has no space to move further. Bulls have to work harder and together in order to break that resistance level.
(Please also note that BTC may possibly be rejected from the resistance line of the blue channel)
You may set two ways pending orders as there is no guarantee that a chart pattern works perfectly (especially small timeframes).
I personally still expect a real breakout.
The purple ascending triangle was superseded by the green ascending triangle in 1H chart. But the resistance level is still the same at 11500.
In 4H chart, it seems like BTC has no space to move further. Bulls have to work harder and together in order to break that resistance level.
(Please also note that BTC may possibly be rejected from the resistance line of the blue channel)
You may set two ways pending orders as there is no guarantee that a chart pattern works perfectly (especially small timeframes).
I personally still expect a real breakout.
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Double tops formed after my post. Let's see if 10900 can hold or not.
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