Bitcoin triangle failure
As you can see, Bitcoin has formed a triangular pattern in the past week, which makes the future trend of Bitcoin more likely in two ways.
1- If the downward triangle breaks, the trend enters the support and resistance zone, which has the power to hold the trend for a few days and prevent bitcoin from falling sharply.
2- If the upward triangle pattern is broken, Bitcoin will try to touch its price ceiling again, and if it crosses it, we can expect to reach the record of 65,000.
Of course, the presence of several components, including a strong support zone consisting of Fibonacci lines, moving averages, the middle line of the current Bitcoin channel, as well as the collective expectation and greater participation of investors at this time can push the market up. In my opinion, the probability of failure is higher.
what is your opinion?
As you can see, Bitcoin has formed a triangular pattern in the past week, which makes the future trend of Bitcoin more likely in two ways.
1- If the downward triangle breaks, the trend enters the support and resistance zone, which has the power to hold the trend for a few days and prevent bitcoin from falling sharply.
2- If the upward triangle pattern is broken, Bitcoin will try to touch its price ceiling again, and if it crosses it, we can expect to reach the record of 65,000.
Of course, the presence of several components, including a strong support zone consisting of Fibonacci lines, moving averages, the middle line of the current Bitcoin channel, as well as the collective expectation and greater participation of investors at this time can push the market up. In my opinion, the probability of failure is higher.
what is your opinion?