So the far the past analysis have been working out quite nicely, but of course the higher we get the bigger the risks become. In the previous analysis i mentioned that if the bulls would be able to keep it above that trend line
on the left, it could become very bullish
. With that i mean a very big rally, towards 50/60 even. But the only way that can happen, is if Bitcoin' can break the 4200 and make a good convincing rally. Because that would make the inverse H&S
even bigger than we assumed from the start. But this means the current triangle has to hold and we need to see a good volume
The less bullish
version, says that if we break upwards from this triangle, we could be moving towards the red resistance where the yellow circle is a target zone as well.
The purple resistance is the first level to break for now. If support breaks, we could be testing the other support levels again. Anything above the red zone on the left, could mean bullish
movement for the mid-term is possible.
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