BITCOIN: The 4th Major Bullish Triangle Pattern Is Taking Shape! 🚀📈
Hello Community, welcome to my new analysis of BITCOIN and its underlying historical bullish triangle developments. BITCOIN, in the current state of the market, is trading in a decisive development as the sentiment switches from bearish to bullish, since BITCOIN has bounced heavily in the range. This dynamic aligns with the major formation pattern I have spotted in BITCOIN. In my analysis, I identified the key signs to consider. When looking at my chart, we can see how BITCOIN trades in this gigantic historical ascending channel formation. With the several bounces off the historical bullish accumulation channel, there is a major historical uptrend ongoing. These bounces were always supported by the several bullish triangle formations seen in my chart. BITCOIN is forming the same triangle formation once again, completing the wave count and bouncing off the boundary. In past patterns, the most important trigger point of BITCOIN going from a breakout into a full bull market was always confirmed when BITCOIN bounced above the 50-WMA, as it can be seen in my chart. This was also the point at which the bullish acceleration continued to bounce within the orange middle channel of the broader ascending channel. BITCOIN recently bounced above the 50-WMA, which is the confirmation step for the next uptrend developments to follow through. In this manner, thank you a lot for watching! Support is highly appreciated.
Accumulation ✔️ Manipulation ✔️ Now watching for Distribution 👀
Should that bearish OB hold price and trigger a rejection, BTC could enter the distribution phase and complete this AMD cycle with a move lower toward Sell Side Liquidity.
ZEC is pulling back into a strong confluence area on the 4H chart, and this is where the next move should be decided. What I'm seeing: - Price is sitting on the 1,240 - 1,305 demand zone. This area acted as resistance in early September, broke on the 17th, and is now being retested as support. - The rising trendline from the September lows runs straight through the same zone, adding a second layer of support. Since October 2, sellers have failed to close a 4H candle below the zone. Each dip is getting bought, which shows demand is still active. 2:25 The scenario: A final sweep into the 1,300 - 1,310 area (zone top + trendline) would be an ideal spot for buyers to step in. If the zone holds, the upside levels to watch are: - 1,410 - first resistance, previous breakdown level - 1,485 - lower high from the drop - 1,550 - supply from the late September range - 1,680 - the swing high and main target of the move Invalidation: A 4H close below 1,240 breaks both the zone and the trendline. In that case the bullish idea is off and the next support sits around 1,170. Wait for confirmation from the zone (a strong rejection wick or bullish engulfing candle) instead of buying blindly, and always size your position so a stop below the zone is a loss you can accept. This is my personal analysis, not financial advice. #ZEC #bullrun
Accumulation ✔️ Manipulation ✔️ Now watching for Distribution 👀
Should that bearish OB hold price and trigger a rejection, BTC could enter the distribution phase and complete this AMD cycle with a move lower toward Sell Side Liquidity.