Bitcoin should break out of the Big triangle soon, Bullish TA
Hello guys,
I think we are in for a big move, and most likely this will be a big pump that will take bitcoin above this line that held strong resistance during 1150 days.
The compression pattern that has formed for so long is due for a breakout since it has reached 75% of the length of the pattern already.
On the daily chart, there is bullish hidden divergence, a higher low on the price, and a lower low on the RSI.
The herd is expecting a drop, because of 'miners capitulation', and there are many people who have sold the bottom and are still waiting to get back in. My opinion is that this will result in a big FOMO run when this compression pattern is finally broken.
Trade Safe and DYOD
I think we are in for a big move, and most likely this will be a big pump that will take bitcoin above this line that held strong resistance during 1150 days.
The compression pattern that has formed for so long is due for a breakout since it has reached 75% of the length of the pattern already.
On the daily chart, there is bullish hidden divergence, a higher low on the price, and a lower low on the RSI.
The herd is expecting a drop, because of 'miners capitulation', and there are many people who have sold the bottom and are still waiting to get back in. My opinion is that this will result in a big FOMO run when this compression pattern is finally broken.
Trade Safe and DYOD
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Comment:
Hmm the futures chart looking quite bad, filled the gap and now against the old support line, this could very well be the top also. Really can't be sure right now.
www.tradingview.com/chart/D50cHZcM/
www.tradingview.com/chart/D50cHZcM/
Comment:
