Aurum Markets Blog Technical Analysis Confirmed breakout on BTCUSD 1 hour chart

Confirmed breakout on BTCUSD 1 hour chart

Confirmed breakout on BTCUSD 1 hour chart post thumbnail image

BTCUSD has broken through a resistance line of a Triangle and suggests a possible movement to 109751.8429 within the next 3 days. It has tested this line in the past, so one should probably wait for a confirmation of this breakout before taking action. If the breakout doesn’t confirm, we could see a retracement back to lines seen in the last 16 days.

Supported by Upward sloping Moving Average

Target: 109751.8429 Entry: 108503.9525 Stop: 107311.11

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