Allroad

BTC Consolidation Triange

Allroad Updated   
BITFINEX:BTCUSD   Bitcoin
Just another pattern I would like to see play out in the next day or two. More likely actions painted with solid lines. The likelihood of upward or downward breakout is equal and we need to be cautious as it approaches the boundaries of the pattern. We are in a triangle as long as the volume is decreasing (blue arrow).
Comment:
I think this breakout was a little premature and the price could have gone higher if it would take more time and spend a day or two to consolidate within the triangle.

Still, it is nice to see that my arbitrary yellow dotted line resistance level at 6,200 was mostly correct. Now it may go lower to find support at 6,000 or at the triangle boundary (around 5,900) and then go up for a new ATH.
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