cryptosince1963

BTC - We're at a Major Historical Moment? + Bout to Bull trap?

BINANCE:BTCUSDT   Bitcoin / TetherUS
BTC has obviously been very bullish the past few days. It looks like we might be nearing the tip of a consolidation triangle stretching back years which points to the next weeks/months being the next big breakout.

Currently we're at the third upper trend line, which extends back all the way to the ATH in December 2017.

If we get through this then last hard resistance trendline is Top 4, extending back to June 2019. I expect a correction down at some point to the lower yellow hard support before we break through for real. Either here at Top 3 just under 12k, or we'll see a little more growth before the bull trap is sprung.

With the elections in the US being weeks away, it's unlikely this is the real breakout now. Volume appears to confirm this, as it's not as high as one would expect on a true breakout and in fact declined during the past few days of growth.

If we move past all of these trendlines, it will be the next big bull run: Volatility has been steadily decreasing and other indicators are quite strong.

Correction now, bull run later.

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