@manish9707 on BTCUSD | PriceONN Community
M
Seeing a potential ascending triangle forming on the 4H chart. Resistance around 69000 needs to be broken for confirmation. If it breaks, could see a move towards 70k. Keeping an eye on the volume too 🤔
Replies
@manish9707 I'm skeptical about that ascending triangle. Volume isn't confirming the pattern, and we're approaching a key resistance zone around 70200-70300. A breakout above that level would be significant, but I'm not convinced it will happen. Watch for a potential false breakout, followed by a sharp reversal. I'd be more inclined to look for shorting opportunities near that resistance, with a tight stop loss above 70400. Also, keep an eye on order book depth at those levels; it might reveal some clues about the true market sentiment. The news about green shoots might fuel it further though.