My analysis shows that we are approaching a decision time for bitcoin as it nears the end of a Symmetrical Triangle formation.
Typically Symmetrical Triangle break out as follows:
54% chance of breakout to upside
46% chance of breakout to downside
There is strong support at the $53,600 range. We can see that bitcoin has bounced of this support area multiple times in the past. Wait for the confirmation of breakout or breakdown to trade this pattern.
Typically Symmetrical Triangle break out as follows:
54% chance of breakout to upside
46% chance of breakout to downside
There is strong support at the $53,600 range. We can see that bitcoin has bounced of this support area multiple times in the past. Wait for the confirmation of breakout or breakdown to trade this pattern.