Looking at the chart, we can see that price has been forming a triangle pattern since December. That formations are always continuation patterns, and the market has been in a downtrend since the ATH. So, basically, it should be to the downside. However the bulls are pretty strong now, so a breakdown of the triangle at least for now is not possible.
Not always. This triangle could trade up and down until it gets closer to the apex and then break North just as easy as South. You are only 4K to zero versus 4K to infinity. Which side has the odds after a decade of maturity?
mikecryptonite
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@Kwa, you are right, in my opinion it should touch the base of the big triangle, before anything big to the upside.