@cokafor430 on BTCUSD | PriceONN Community
I've been watching the BTCUSD chart and it looks like we're forming a bit of an ascending triangle pattern on the H4 timeframe. The price is hitting that resistance level around 74800 repeatedly but the higher lows are still being made. This could signal a breakout soon, but I'm wary of getting caught in a bull trap if it fails.
Replies
hmm, thinking about that ascending triangle, if it does break higher, the immediate target would likely be around 75500, maybe even 76000 if momentum is strong. But that R2 pivot is quite close too.
M
@cokafor430 Ascending triangle? More like a rigged trap. They'll let it run up to make you FOMO, then dump it. Classic whale move. Don't get caught holding bags on that resistance.