Hi everyone,
Thank you for considering reading my idea.
Bitcoin is forming this symmetrical triangle pattern . Few hours ago, we saw a rejection at the top of the triangle. We still have our support line from the bottom of the triangle. There are two scenarios: the green for bullish and red for bearish .
Bullish Scenario: It's unlikely we break out of the triangle to the upside. But if we do, the target could be at 50K, which, in my opinion, would continue the bullrun.
Bearish Scenario: It's likely that we break to the downside as symmetrical triangle are continuation patterns. Since we came down from 60K, we may continue going down soon. Target of this pattern is at 24K.
Like this idea and follow me for more analysis like this.
Cheers,
Juvs
Thank you for considering reading my idea.
Bitcoin is forming this symmetrical triangle pattern . Few hours ago, we saw a rejection at the top of the triangle. We still have our support line from the bottom of the triangle. There are two scenarios: the green for bullish and red for bearish .
Bullish Scenario: It's unlikely we break out of the triangle to the upside. But if we do, the target could be at 50K, which, in my opinion, would continue the bullrun.
Bearish Scenario: It's likely that we break to the downside as symmetrical triangle are continuation patterns. Since we came down from 60K, we may continue going down soon. Target of this pattern is at 24K.
Like this idea and follow me for more analysis like this.
Cheers,
Juvs
Comment:
Got support at the bottom of the triangle. Will it hold?
