Based on our previous analysis indicating the price of BTCUSD gradually consolidating inside a descending triangle chart pattern, price has tested the support and failed to breakdown giving it yet another chance to test the down sloping resistance once again.
On the 2hours time frame the price chart of BTCUSD has been spotted forming a bullish reversal chart pattern called the ascending triangle chart pattern.
Breakout already in play, but it needs to stay above the horizontal line for further move to the upside.
Major resistance to keep an eye on are as follows:
Breakout level- $10786.4
Resistance 1- $10850.1
Resistance 2- $10919.7
Resistance 3- $11102.1
Note that price might likely pull back after the major test of the resistance levels, majorly pointing at the previous levels here:
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Ideas published should not be referred to as an investment advice
On the 2hours time frame the price chart of BTCUSD has been spotted forming a bullish reversal chart pattern called the ascending triangle chart pattern.
Breakout already in play, but it needs to stay above the horizontal line for further move to the upside.
Major resistance to keep an eye on are as follows:
Breakout level- $10786.4
Resistance 1- $10850.1
Resistance 2- $10919.7
Resistance 3- $11102.1
Note that price might likely pull back after the major test of the resistance levels, majorly pointing at the previous levels here:
Ideas published should not be referred to as an investment advice