Bitcoin: Triangle Chart Pattern and Important Signals

The price dropped below the cloud, and it gives a bearish signal. At the same time, we can see the price reversal from the uptrend line. The market can keep moving in the borders of a triangle chart pattern. It will be possible to see a new upward movement to the downtrend line.

In order to confirmation for a new trend movement, the market will have to break out from the triangle and move above 12500.00 for the bullish trend and drop below 9000.00 for the bearish trend. Without it, we should expect the sideways movement between these levels.

This idea is based on a daily timeframe and signals from Ichimoku indicator. Other timeframes, tools, and methods of analysis will be able to provide you other ideas how to trade in this market. It is absolutely normal!