Bitcoin loves to trade in obvious triangle patterns and then trick everyone by having massive 'fakeouts' - moves outside of the structure that then quickly reverse, trapping traders.
This Triangle pattern has had 2 big fakouts so far - could this current move just be a 3rd fakeout?
If it is - and If the price manages to rebound back into the structure, there is still a possibility of an upwards breakout.
The blue box shows the target for an upward breakout. Any upward breakout would push the price well over the 35k level indicated by the white arrow pointing to a gap in the VPVR.
Moving above this level would be very strong for Bitcoin.
This Triangle pattern has had 2 big fakouts so far - could this current move just be a 3rd fakeout?
If it is - and If the price manages to rebound back into the structure, there is still a possibility of an upwards breakout.
The blue box shows the target for an upward breakout. Any upward breakout would push the price well over the 35k level indicated by the white arrow pointing to a gap in the VPVR.
Moving above this level would be very strong for Bitcoin.