This is a pattern we see over and over again in Bitcoin , on many timeframes. A breakout of a continuation pattern/triangle, a sharp retrace after the measured move of the triangle is complete, and then a bounce that almost looks like a descending wedge that we end up breaking out of and pushing higher.
Nothing is guaranteed, but given this has happened many times before, and alts are still looking strong, we should definitely have a bullish bias. A strong push up out of this bounce pattern would be confirmation, and stops would be placed right below the low of the third bounce.
Nothing is guaranteed, but given this has happened many times before, and alts are still looking strong, we should definitely have a bullish bias. A strong push up out of this bounce pattern would be confirmation, and stops would be placed right below the low of the third bounce.