- BTC/USD picks up bids inside one-week-old symmetrical triangle.
- 21/50-bar SMA confluence backs further upside, sellers seek fresh monthly low for entries.
BTC/USD remains the bull’s favorite while rising to 19,235, up 0.30% intraday, during early Tuesday. Even so, the quote remains above a convergence of 21-bar and 50-bar SMA amid non-bearish oscillators.
With this, buyers are eyeing an upside break of a short-term symmetrical triangle while crossing 19,390 immediate resistance. Though, the following run-up to the monthly high near 19,915 needs validation from the 19,400 round-figure.
It should, however, be noted that the 20,000 psychological magnet will lure the BTC/USD bulls past-19,915.
On the contrary, a downside break below the immediate SMA joint, near 19,120, will fetch the quote to the aforementioned triangle’s support, at 18,652 now.
During the crypto major’s further weakness past-18,652, the monthly low near 18,110 holds the key to an extended south-run targeting November 27 high around 17,470.
BTC/USD four-hour chart
Trend: Bullish
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