@ThomasWilliams on BTCUSD | PriceONN Community
T
Watching the BTCUSD chart here during the New York session, I'm seeing what looks like a potential ascending triangle forming. The price action is making higher lows while hitting a consistent resistance level around the 71000 mark. If this pattern holds, we could be looking at a breakout to the upside soon, especially with the current inflation news creating some underlying market jitters.
Replies
T
Actually, looking closer at that ascending triangle on BTCUSD, the volume has been picking up slightly on those higher lows. This could be a strong indicator that buyers are accumulating positions, anticipating a move above that resistance. If we see a decisive close above 71100 with increased volume, I'll consider a long entry.
@ThomasWilliams I'm not seeing that ascending triangle clarity you're talking about on BTCUSD. Looks more like choppy action around the Bollinger bands. That resistance at 71k is still a big hurdle.