BTCUSD Bitcoin to become bullish once symmetrical triangle break
Bitcoin price is clearly in a symmetrical triangle pattern which is nearing its end so expect a big move soon. It is likely to continue in the predicted channels within the triangle and break upwards to a fibonacci extension of 1.618 at 53K.
Resistance likely at 0.5 Fib (37300) and 0.618 Fib (39000) before continuing the march to victory
However If price breaks and closes below 33.5K (The higher low in symmetrical triangle) then this analysis has failed and expect a move to the downside to 30K and possibly even further below.
Resistance likely at 0.5 Fib (37300) and 0.618 Fib (39000) before continuing the march to victory
However If price breaks and closes below 33.5K (The higher low in symmetrical triangle) then this analysis has failed and expect a move to the downside to 30K and possibly even further below.
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So the price broke and closed below 33.5K which was confirmation of break of structure. Price has now reached 30K as predicted, If breaks next stops are 28K, 25K and 23K