Bitcoin forming symmetric triangle, Waiting for breakout
BTC Update
BTC is forming a symmetric triangle and respecting the support and resistance lines. The triangle is tightening up, we may see another test of the $39,500-$39,800 area. Bulls need to break this triangle in an upward direction and hold above it. So far market is absorbing all the FUDs and holding the $35,000 support level. A downward breakout of this triangle will get us back to $30,000-$31,500 levels. No need to panic here, just enjoy the weekend.
BTC is forming a symmetric triangle and respecting the support and resistance lines. The triangle is tightening up, we may see another test of the $39,500-$39,800 area. Bulls need to break this triangle in an upward direction and hold above it. So far market is absorbing all the FUDs and holding the $35,000 support level. A downward breakout of this triangle will get us back to $30,000-$31,500 levels. No need to panic here, just enjoy the weekend.