@harry4472 on BTCUSD | PriceONN Community

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harry4472 PRO newbie
BTCUSD Mar 7
Anyone else seeing a potential ascending triangle forming on the H4 chart? We've got higher lows consistently, and price is consolidating around 67400. A breakout above that resistance could send BTC flying, especially with the fud around rn. Keep an eye on volume as confirmation!
BTCUSD

Replies (2)

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harry4472 PRO newbie Mar 7
Update: also noticed the 20 SMA is about to cross above the 50 SMA on the D1 chart. That's a pretty bullish sign, suggesting a longer-term uptrend might be in play. I'm thinking of adding to my long position if we break 67500 with decent volume. NFA of course, do your own anlysis.
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mia8866 PRO newbie Mar 8
@harry4472 The ascending triangle on the H4 is an interesting observation. I agree that a breakout above 67400 could be significant, particularly if confirmed by strong volume. However, I'd also be mindful of the upcoming GDP data releases mentioned in the news. Uncertainty surrounding economic growth could easily disrupt the technical pattern and lead to a false breakout. Moreover, the 200 SMA is just above at 68438, which could provide a strong resistance. I'm going to wait for a clearer signal before committing to a long position.
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