The main pattern at work is the that began with the Thanksgiving pullback. BTCUSD proceeded to make a higher low one week ago. It then successfully tested that low with a false breakdown on December 11, followed by a steady climb as buyers piled in. Now it seems to be breaking that triangle.
A few other patterns jump out from the four-hour chart. First, notice how prices moved back above $19,000 and held for the last three days.
Next, has been rising.
Finally, Width squeezed back to the bottom of its range before this morning’s breakout to new highs. BTCUSD has seen squeezes before extended moves previously.
Don’t forget today’s meeting will likely keep a steady drum beat of dovish news and low interest rates. That’s normally helped weak-dollar assets like gold . But now that BTCUSD has gained acceptance, it could be the new beneficiary of easy-money policy.
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