After a huge rebound, BTC is is at a major crossroads: Will the bulls break BTC out of this bear cycle? Or have the bears expertly set a giant trap for slaughter?
- Should BTC break above this nice bullish triangle, the target points above the top bearish channel (thick dotted line).
- If a break below is the course of action, a nasty Head and Shoulders pattern will come into play, pushing BTC below the current uptrend channel for a retest of the $8.8-$9K level. The H&S patter is not drawn but the neckline runs right along the bottom triangle.
I'm betting this fight happens Monday morning but will be just fine waiting for confirmation on who's still standing :)
--------
This is NOT a recommendation to buy or sell and ONLY for educational purposes.
- Should BTC break above this nice bullish triangle, the target points above the top bearish channel (thick dotted line).
- If a break below is the course of action, a nasty Head and Shoulders pattern will come into play, pushing BTC below the current uptrend channel for a retest of the $8.8-$9K level. The H&S patter is not drawn but the neckline runs right along the bottom triangle.
I'm betting this fight happens Monday morning but will be just fine waiting for confirmation on who's still standing :)
--------
This is NOT a recommendation to buy or sell and ONLY for educational purposes.
Comment:
Better wait for a little more confirmation on this one :)
Comment:
i.e volume should accelerate in a breakout...