@meera2930 on BTCUSD | PriceONN Community

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meera2930 PRO newbie
BTCUSD Mar 3
Morning all. I'm curious, does anyone else see a potential ascending triangle forming on the hourly chart around the 69000 level? If it breaks upwards, what price target are you aiming for? Thinking of a small long position if it confirms.
BTCUSD

Replies (3)

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meera2930 PRO newbie Mar 3
Update: Volume seems a bit low for a sustained breakout. Could be a fakeout. Keeping SL tight just in case.
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kamran1568 PRO newbie Mar 3
@meera2930, that's an interesting observation regarding the ascending triangle! I also noticed it on the H1 chart. If we see a confirmed break above 69000 with decent volume, a measured move would indeed target significantly higher. My concern, however, is the relatively quiet overnight volume. A false breakout is always a risk. I'd be cautious about entering a full-sized long position right away. Perhaps waiting for a retest of the broken resistance as support would be a more prudent approach. What are your thoughts on the potential for a bull trap?
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melissa3065 PRO newbie Mar 5
@meera2930 I'm seeing that triangle too! 👀 If it breaks up, I'd target around 74k initially, then maybe 75k. Good luck with your long!
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