BTC USD BITCOIN SYMMETRICAL TRIANGLE UPSIDE BREAK TARGET $32K
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BITCOIN is in a symmetrical triangle pattern and is testing the upper resistance of the triangle. A lot of times these formations are continuation patterns which would mean more downside. Sometimes though these break to the upside and I think that is what is happening here. The MACD, RSI and Accumulation/Distribution indicators on the daily time frame and leaning bullish so a break to the upside is probable. The measured move of the breakout will be $26.5k to $27k, however I think we will blast through that and go all the way to about $32k where we have some good resistance. If we break past $32.5k and close at least a 4 hour above it then a move to $40k is likely and then we will revisit. This is not financial advice, this is just my opinion. Thank you
BITCOIN is in a symmetrical triangle pattern and is testing the upper resistance of the triangle. A lot of times these formations are continuation patterns which would mean more downside. Sometimes though these break to the upside and I think that is what is happening here. The MACD, RSI and Accumulation/Distribution indicators on the daily time frame and leaning bullish so a break to the upside is probable. The measured move of the breakout will be $26.5k to $27k, however I think we will blast through that and go all the way to about $32k where we have some good resistance. If we break past $32.5k and close at least a 4 hour above it then a move to $40k is likely and then we will revisit. This is not financial advice, this is just my opinion. Thank you
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