T.A Insights, BTC Update.
Everyone is looking at the bearish head and shoulder and ignoring the bullish ascending triangle pattern. However, chances of playing bullish ascending pattern is way higher than the bearish H&S.
BTC is now trading above the 50 weekly MA and testing 20 weekly MA, as long s btc is above the 50 weekly MA the price of btc is more likely to trend higher and remain bullish.
Incase, if BTC closes a week below the 50 weekly MA then BTC can test $19,000. otherwise, price of BTC is gradually trending higher. 2-3 consecutive closing of BTC above the 20 weekly MA will send btc to test the higher resistance levels, i.e, $33,000 and $38,000 in coming weeks.
