@blrAishwarya on BTCUSD | PriceONN Community
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Observing a potential ascending triangle forming on the H4 chart for BTCUSD, with resistance around 70000. A confirmed breakout above this level could signal a significant bullish move, targeting 72000. However, failure to break through might indicate a period of consolidation or a possible retracement to the 68000 support area. It's crucial to monitor volume during any breakout attempt to confirm the validity of the pattern. Consider implementing a tight stop-loss to mitigate risk.
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@blrAishwarya I agree with your observation regarding the ascending triangle formation on the H4 chart. However, I'm a bit hesitant to rely solely on this pattern due to the recent price volatility. A confirmed breakout needs to be accompanied by strong volume and positive news flow to support a sustained move towards 72000. Otherwise, it may just be a fakeout.