Bitcoin Cats (1CAT)
Bitcoin Cats is a cross-chain entertainment ecosystem that bridges the Bitcoin and EVM networks. To achieve this, Bitcoin Cats builds 1CAT Chain, which is a modular Bitcoin Layer2 compatible with EVM, utilizing the 1CAT token and BTC as the gas.
Anyway, 1CAT is still young, and since few candles are available, long-term analysis is not possible. However, it seems 1CAT is oscillating in a triangle pattern, and recently 1CAT broke the minor downtrend line and started an upward wave from the bottom. If 1CAT breaks this triangle upward, two scenarios could play out. 1) 1CAT goes up equal to the width of the triangle from the point where it broke the triangle, which is the Fib level 1 line. 2) 1CAT goes up from the highest point of the triangle as much as its width, which is the purple line. Of course, these scenarios become valid if this triangle pattern turns out to be true. Let's see what happens.
(This is a requested analysis)
Anyway, 1CAT is still young, and since few candles are available, long-term analysis is not possible. However, it seems 1CAT is oscillating in a triangle pattern, and recently 1CAT broke the minor downtrend line and started an upward wave from the bottom. If 1CAT breaks this triangle upward, two scenarios could play out. 1) 1CAT goes up equal to the width of the triangle from the point where it broke the triangle, which is the Fib level 1 line. 2) 1CAT goes up from the highest point of the triangle as much as its width, which is the purple line. Of course, these scenarios become valid if this triangle pattern turns out to be true. Let's see what happens.
(This is a requested analysis)
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