mikecryptonite

Are bears giving up?

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BITFINEX:BTCUSD   ビットコイン/米ドル
Looking at the chart, we can see that price has been forming a triangle pattern since December. That formations are always continuation patterns, and the market has been in a downtrend since the ATH. So, basically, it should be to the downside. However the bulls are pretty strong now, so a breakdown of the triangle at least for now is not possible.
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