BTC Bullish Triangle Breakout!

2 Şub 2022

Doing a little update from yesterdays TA and ill keep this one a little shorter! We have successfully broken out of the bullish triangle we talked about, keep in mind there is always the chance that we reenter this pattern before the real breakout happens, but either way we are looking strong, we have been steady rising for over a week now and we have taken out some important levels on the way like the 0.7 FIB and the top of this triangle, now we are looking at holding above here and our next goal is going to be reclaiming our midline on the bollinger bands, we need to get into the upper half as the midline will then be support and we have the opportunity to make a run for that top band! After the midline on the BB's we are looking at an absolute key level that is.. the pivot point sitting around 39.8K, reclaiming this level will definitely add a ton of bullish momentum, not only is just the current pivot point but is just below 40K and as we all know that is a must reclaim zone at some point sooner than later. The Wavetrend is looking good aswell we are rising still and not showing virtually any signs of slowing up just yet, we had a strong rebound coming out of the buy zone and we are about halfway to that midline, of course a run above this midline would be very ideal but in this wave i don't know if thats going to be the case, none the less if we do see a little drawdown it wouldn't be unhealthy to do so, we will likely catch some support on the way down before hopefully making our way back up and going for that midline and beyond! Not financial advice just my opinion!