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BTCs Horizontal Triangle Upward Breakout Probability Scenario

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Here's my idea of how Bitcoin's Upward Breakout From The Horizontal Triangle may play out - Probability Scenario

Urgency: Imminent

Upward Breakout Probability Percentage: 50%

First Target: $12,500
2nd Target: $12,850
3rd Target: $13,100
Final Target: $14K

Horizontal Triangle Consolidation Expiration Time: Maximum 16 hrs

If it goes south, here are the support Levels:
1. $11,200
2. $11,000
2. $10,500
3. $9,500
4. Abyss

Trade the breakout. Trade the breakout. Trade the breakout.

Warning! Watch for FU moves, extremely large wicks to the downside to take out short positions and instantly wick back up or vice versa, algo bots are set to hunt for stop losses.

Remember to always, always place your trailing stops at the appropriate levels as not to get stopped out at your trades.

>>>>> Always be prepared for either scenario of upwards movement or downwards movement. <<<<<


Happy Trading Everyone.

Ron

Trade the breakout.

Warning! Watch for FU moves, high wicks, Bots hunting for stop losses.

Remember to always, always place your trailing stops at the appropriate levels.
Be prepared for either scenario.

Happy Trading Everyone.

Ron

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Check out these still valid mid-term outlook for Bitcoin using:

Support and Resistance Lines
Bitcoin Support And Resistance Bars


The Trend-Based Fibonacci Extension Tool
Trend-Base Fib Extension Is A Magnificent Tool


Elliott Impulse And Correction Waves
Bitcoin Elliott Impulse And Correction Waves Complete


4th's The Charm - Bitcoin Breakout
4th's The Charm - Bitcoin Breakout



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Check out these still valid long-term outlook for Bitcoin using:

Bitcoin ABC Elliott Correction Wave & Gann Boxes
Bitcoin ABC Elliott Correction Wave & Gann Boxes


Bitcoin's Most Common Reversal Levels
Be Aware! Incoming, Bitcoin Most Common Reversal Levels


Fractals: Hmmm, Pretty Similar To Me Bitcoin
Hmmm, Pretty Similar To Me Bitcoin



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Check out Bitcoin Cycles

Bitcoin Cycle Of Rise, Peak, Drop
Bitcoin Cycle Of Rise, Peak, Drop


ملاحظة
Horizontal triangle has been extended.
All targets are still valid.
لقطة
ملاحظة
Bullish signals on H4.
Bitcoin Bullish Signals On Short Term H4
ملاحظة
Bullish Divergence on RSI
Momentum Directed Upwards
Major trend is directed upwards
Potential For Upwards Breakout: Mid To High

لقطة

Trade the breakout. Trade the breakout. Trade the breakout.

Warning! Watch for FU moves, extremely large wicks to the downside to take out short positions and instantly wick back up or vice versa, algo bots are set to hunt for stop losses.

Remember to always, always place your trailing stops at the appropriate levels as not to get stopped out at your trades.

>>>>> Always be prepared for either scenario of upwards movement or downwards movement. <<<<<

Happy Trading Everyone.
Ron
ملاحظة
Multiple Bullish Divergences fortifying bullish signals.
Price has breached strong resistance level of $11,833.
Leaning more towards a bullish breakout.
لقطة

Trade the breakout. Trade the breakout. Trade the breakout.

Warning! Watch for FU moves, extremely large wicks to the downside to take out short positions and instantly wick back up or vice versa, algo bots are set to hunt for stop losses.

Remember to always, always place your trailing stops at the appropriate levels as not to get stopped out at your trades.

>>>>> Always be prepared for either scenario of upwards movement or downwards movement. <<<<<

Happy Trading Everyone.
Ron
ملاحظة
The stronger and higher probability (68%) of breaking downwards Rising Wedge dominated over the 50-50 chances Horizontal Triangle.

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