As we have been consolidating in the symmetrical triangle over the last couple of months. I'm looking for a breakout to the upside as bull flag patterns are bullish as are symmetrical triangles. As long as we don't see the 100 Day MA cross the 50 Day MA I am bullish. We can easily test previous highs which was roughly 14k, if not test previous ATH. If we do have a breakdown, I see strong support at about 8K. Not Financial Advise.
Comment:
As we had the crossing of the 50 and 100 MA's it turned bearish. Now we have come down to test the 200 MA and are finding support in the low 8k region. RSI is showing bitcoin is oversold there's a chance that we get a rally that puts us back into the symmetrical triangle.