#Bitcoin Bullish Butterfly (4H)
The Bulls have painted a Butterfly pattern on the 4H time frame.
Should price reach above the initial take profit level (45030.69) it will need to break and close above the pattern (48424.11) to confirm the reversal of the trend back to the upside.
After such a strong move to the downside I would expect a considerable amount of choppy movement before any reversal will be confirmed.
I will be keeping a close eye on any patterns the Bears may paint within the stop zone of the Bullish Butterfly.
Should price reach above the initial take profit level (45030.69) it will need to break and close above the pattern (48424.11) to confirm the reversal of the trend back to the upside.
After such a strong move to the downside I would expect a considerable amount of choppy movement before any reversal will be confirmed.
I will be keeping a close eye on any patterns the Bears may paint within the stop zone of the Bullish Butterfly.
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