Hellow trader!
After a rise from 38.5K strong Support, BTC is now at 42.5 its about 11% rise.
Now BTC needs some more strength to break the previous high and for that BTC is in accumulation/consolidation. The pattern BTC has formed is an expanding triangle and currently, it's at the top of the pattern and i am expecting a retracement from here towards supportive trendline.
There is a chance that BTC can push further upside and can break the upper trendline and later it will fall.
In both cases, we will see a drop soon.
Don't forget to hit the like button and follow to stay connected
After a rise from 38.5K strong Support, BTC is now at 42.5 its about 11% rise.
Now BTC needs some more strength to break the previous high and for that BTC is in accumulation/consolidation. The pattern BTC has formed is an expanding triangle and currently, it's at the top of the pattern and i am expecting a retracement from here towards supportive trendline.
There is a chance that BTC can push further upside and can break the upper trendline and later it will fall.
In both cases, we will see a drop soon.
Don't forget to hit the like button and follow to stay connected
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.