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The Bitcoin price is getting ready to make a massive move in the coming days! Right now, the price is at the tip of the converging triangle pattern forming on the 4-hour timeframe.
If this breakout plays out, we can expect to see a massive rally either to the upside or downside in the coming days!
In this Bitcoin analysis, we will be talking about this coming breakout, the key levels we will be watching this coming move.
Bitcoin Bullish Breakout
For a Bitcoin bullish breakout, we want to see the Bitcoin price break through the top of the converging triangle.
The key level to watch is the $36,599 horizontal resistance. A break of this resistance creates a higher-high structure that points to more move to the upside in the coming days.
Bitcoin Bearish Breakout
For the Bitcoin bearish prediction, we want to see the price of the cryptocurrency dump and break below the $32,831 horizontal support.
A break of this support is a high-quality bearish confirmation and could see the Bitcoin price sell-off massively soon.
Final Verdict!
Bitcoin is at a critical level right now on the 4-hour timeframe, sooner or later we expect to see a massive move occur in the cryptocurrency price. This move is bound to occur very soon in the coming days.
Until the price of Bitcoin breaks one of the two key levels we mentioned in this analysis, we will remain neutral, stand aside and wait for a breakout confirmation.
For More Trading Idea
For more trading ideas, check out our live technical analysis video. In this video, we break down some of the key technical analyses playing out right now in the crypto market.
Easy Steps From Beginner To Pro Crypto Trader
You can speed up your learning journey by reading our How To Trade Bitcoin Guide. This guide is best for traders who are new to the crypto space. You can also check out our top list of Best Bitcoin Exchanges To Trade With.
