Hello There,
welcome to my new and updated analysis about BTCUSD on the 4-hour timeframe perspective. The recently developed strong bullish momentum shows a major shift in this whole trading range. As I mentioned in previous ideas, BTCUSD developed the setup for a substantial range breakout, which now happened. With the breakout, BTCUSD could confirm two bullish formations in a row.
As when looking at my chart, we can watch there how BTCUSD formed the breakout above the previous resistance, which is now a strong horizontal support. This breakout completed two formations in a row. The first formation is this ascending triangle formation. The second formation is this ascending bull flag formation. Both bullish formations now activated the bullish continuation.
Bitcoin has substantial support in the structure. It has the 20-EMA marked in green, the horizontal support, and the volume as major supports. All being levels from where further bullish bounces to the upside are highly likely. The first bullish target zone is now in the 81350 area. Right now, as BTCUSD confirms the bull flag by touching the upper boundary, this is a strong entry.
The final bullish target zone will be, as I already mentioned in the previous ideas above, the 83500 level, between 83500 and 84000. Once this final target zone has been reached, further assumptions about the further development need to be made. On-chain data also supports the currently established bullishness, as futures trading and the number of active addresses increased.
In this manner, thank you a lot for watching!
What do you think about BTCUSD right now?
Let us know in the comments!
VP
welcome to my new and updated analysis about BTCUSD on the 4-hour timeframe perspective. The recently developed strong bullish momentum shows a major shift in this whole trading range. As I mentioned in previous ideas, BTCUSD developed the setup for a substantial range breakout, which now happened. With the breakout, BTCUSD could confirm two bullish formations in a row.
As when looking at my chart, we can watch there how BTCUSD formed the breakout above the previous resistance, which is now a strong horizontal support. This breakout completed two formations in a row. The first formation is this ascending triangle formation. The second formation is this ascending bull flag formation. Both bullish formations now activated the bullish continuation.
Bitcoin has substantial support in the structure. It has the 20-EMA marked in green, the horizontal support, and the volume as major supports. All being levels from where further bullish bounces to the upside are highly likely. The first bullish target zone is now in the 81350 area. Right now, as BTCUSD confirms the bull flag by touching the upper boundary, this is a strong entry.
The final bullish target zone will be, as I already mentioned in the previous ideas above, the 83500 level, between 83500 and 84000. Once this final target zone has been reached, further assumptions about the further development need to be made. On-chain data also supports the currently established bullishness, as futures trading and the number of active addresses increased.
In this manner, thank you a lot for watching!
What do you think about BTCUSD right now?
Let us know in the comments!
VP
Trade attivo
TRADING AND ANALYSIS UPDATE:BTCUSD bounced from the bull flag, further confirming it, and is now trading above the 80900 key level.
The price action of BTCUSD is near the first target already. Further price momentum is likely.
Nota
First Bullish Target Zone Reached.
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►✅JOIN THE BEST+ TOP TELEGRAM TRADING CHANNEL: t.me/VincePrinceForexGoldStocks
►🚀Join Premium Channels: bit.ly/4bUD8N8
►🔥JOIN BYBIT TOP EXCHANGE►🎁 UP TO $30,000 BONUS NOW: partner.bybit.com/b/VinceByBit
►🚀Join Premium Channels: bit.ly/4bUD8N8
►🔥JOIN BYBIT TOP EXCHANGE►🎁 UP TO $30,000 BONUS NOW: partner.bybit.com/b/VinceByBit
Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.