Right now, I see $BTC trading in a tight consolidation pattern, coiling up like a spring before it makes its next move. If this breakout is to the upside, than I expect price to test the high made late June. A downward break here and at a minimum we would retrace to 10.8k. If that fails to hold, than I expect lower lows to be made around the 8k range.
But as of right now this is a continuation pattern with the relative trend being bullish, ergo the triangle has a higher probability to break up.
But as of right now this is a continuation pattern with the relative trend being bullish, ergo the triangle has a higher probability to break up.
Comment:
Triangle pattern still in play
Triangle pattern still in play
Higher lows pirce / lower lower momentum indcator = hidden bullish divergence