Symmetrical triangle with fake-out. Clear slanting trendline going all the way back to mid March. Breakout coming in about a week. Could go either way BUT... BTC appears to still be heavily correlated with stock market and the stock market just closed weekly candle under a huge resistance area. I'm expecting about a 7% pullback in stock market over the next few weeks, which would correspond to anywhere from 10 to 30% BTC pullback, which would mean a break downward from this triangle to mid to upper 7ks.
Nothing too dramatic and overall picture would still remain overall bullish, with certain concerns, depending on what happens after this next move.
Cheers. Thinks positively. Universe is yours. Abundance. Happy trading!
Nothing too dramatic and overall picture would still remain overall bullish, with certain concerns, depending on what happens after this next move.
Cheers. Thinks positively. Universe is yours. Abundance. Happy trading!
