BTC - H4 - TRIANGLE PATTERN - BREAKOUT IMPLICATIONS !H4 : Still under the influence of a triangle pattern in progress.
Failure to upside breakout on 4 successive attempts triggered
an opposite move which on its way broke the Mid Bollinger Band support level.
As a result, both triangle base and clouds support are not far away.
In addition, it is important to note the fragility of the clouds which is currently
very thin !!
Implications of a triangle breakout are pretty clear on the chart and the expected
amplitude is shown in green on a bullish scenario and in red in a bearish scenario.
For the time being, it is expected to rather see a downside breakout than an upside one.
Therefore, continue to watch carefully shorter time frames H1 and M15 in order to get
early signal (s) which will allow you to act accordingly.
Have a nice Sunday
All the best.
