BITCOIN HORIZONTAL TRIANGLE ANALYSIS (PAY ATTENTION JUNE 21-24)
Currently, Bitcoin is in a horizontal triangle and can break out either way before the apex. Hence pay attention to the market until 24th June (apex).
It would be most beneficial to buy when the breakout is confirmed to be bullish (ie. bullish trend). It will be risky to buy as soon as it crosses the lines of support and resistance as it may just reverse!
One thing to note is that 30 million dollars of bitcoin were hacked. This shouldn't actually affect the price but the public might freak out which will cause prices to drop.
Normally I would predict a bullish trend but with this hack, I'm really not sure. Still fairly confident it will be bullish but make sure to invest only after there is a proper trend outside the triangle.
Please like/ give feedback. Still new to this
It would be most beneficial to buy when the breakout is confirmed to be bullish (ie. bullish trend). It will be risky to buy as soon as it crosses the lines of support and resistance as it may just reverse!
One thing to note is that 30 million dollars of bitcoin were hacked. This shouldn't actually affect the price but the public might freak out which will cause prices to drop.
Normally I would predict a bullish trend but with this hack, I'm really not sure. Still fairly confident it will be bullish but make sure to invest only after there is a proper trend outside the triangle.
Please like/ give feedback. Still new to this
Comment:
still contained by triangle