@kevin220 on BTCUSD | PriceONN Community

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K
Watching the BTCUSD chart during this New York session. I'm seeing a potential ascending triangle pattern forming on the H4 timeframe. Price action has been consolidating between a flat resistance at 78,900 and an upward-sloping support trendline. The RSI is currently holding above 60, which suggests continued bullish momentum. A break above that triangle resistance could signal a move towards 80,500.
BTCUSD

Replies (1)

K
kevin220 PRO newbie Apr 22
Further to my earlier observation about the ascending triangle on H4 for BTCUSD, I've also noted that the 50-period SMA is now sloping upwards and is just below the current price around 76,600. This adds confluence to the bullish setup. If we see a decisive breakout with increased volume, targeting the R1 pivot at 79,504 would be the immediate objective. However, I'm keeping a close eye on the 78,618 S2 pivot as a potential support if the triangle fails. The MACD also shows increasing bullish crossover strength. This setup feels quite solid for now.
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