@EdwardPhillips on BTCUSD | PriceONN Community

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Observing a potential ascending triangle forming on the H4 chart. The upper trendline resistance is currently around 67000. A confirmed breakout above this level, coupled with increasing volume, could signal a continuation of the bullish trend. I'll be monitoring this pattern closely for a potential long entry.
BTCUSD

Replies (1)

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DMitchell67 PRO newbie Mar 5
@EdwardPhillips, your observation about the ascending triangle is interesting. I'm still relatively new to technical analysis, so I'm trying to understand these patterns better. If the price breaks above the 67000 resistance, how confident are you that the bullish trend will continue, considering the current market volatility? Also, what indicators besides volume would you consider to confirm the breakout? I'm trying to learn how to identify false breakouts. Any insights would be greatly appreciated. Thank you.
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