Bitcoin Needs an Hourly Close Above $82,951.49 to Confirm Breakout
Photo: TokenPost
Bitcoin was $189.06 below an hourly chart’s breakout confirmation level at 3:27 a.m. ET (07:27 UTC) on Oct. 19, while daily indicators gave a mixed picture. On Binance, Bitcoin (BTC) traded at $82,762.43, up 1.52% over 24 hours. Its 24-hour high of $82,810.64 was also below $82,951.49, the level an hourly chart setup uses to confirm a breakout. Confirmation depends on a completed hourly candle above $82,951.49. An intrahour move above the mark would not satisfy the condition, which applies to this setup rather than serving as a market-wide threshold. Daily chart levels use a separate timeframe.
Also reported by The Cryptonomist.
Source: TokenPost
