BTC - At LTF Support
On the 4H BTC is currently testing support.
Price is clearly in a symmetrical triangle as outlined by the red/green arrows above/below the white trendlines.
Also on our RSI we are seeing a bounce from oversold (green circles).
A decisive breakout or breakdown from this pattern should be established around the halving if price continues to range.
The only current LTF concern is our 200MA on the 4H (blue MA). This has acted as a key level for price action support that was recently lost. What we do not want to see is a retest of that 4H 200 MA as new resistance.
Price is clearly in a symmetrical triangle as outlined by the red/green arrows above/below the white trendlines.
Also on our RSI we are seeing a bounce from oversold (green circles).
A decisive breakout or breakdown from this pattern should be established around the halving if price continues to range.
The only current LTF concern is our 200MA on the 4H (blue MA). This has acted as a key level for price action support that was recently lost. What we do not want to see is a retest of that 4H 200 MA as new resistance.
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