Recently BTC price has formed some kind of a symmetrical triangle after a capitulation. There is a huge fear in a market right now, and i cannot help myself buying some alts at those prices. We will eventually climb back up. When? .. No body knows, but if btc decides to fall down from this pattern we may have a retest of a recent local low forming a double bottom or even form another one. If that is the case we should do that in a few days, otherwise expect the price to break up from the triangle. If price breaks up, expect a shortsqueze that could take us back to 50k close to a .702 fib. level. Once we are there we should slowly form a new ATH then have a blow of top to 70-80k and that should be the end for this cycle for BTC. We still have a long way to go and right now it is really hard to say where the prices will go in a short term period.
In case you don't know, Where triangles are broken, the price can usually move for the same length as height of a triangle. That does not always happen but it usually represents the maximum price movement in that direction.
Stay strong and hodl your crypto if you understand what you hold and are comfortable with the risk. You will get rewarded.
I am not a financial advisor and non of this should be taken as a financial advise. Be well.
BTCUSD
In case you don't know, Where triangles are broken, the price can usually move for the same length as height of a triangle. That does not always happen but it usually represents the maximum price movement in that direction.
Stay strong and hodl your crypto if you understand what you hold and are comfortable with the risk. You will get rewarded.
I am not a financial advisor and non of this should be taken as a financial advise. Be well.
BTCUSD