Bitcoin's Sym Triangle is still green lit, for now...
The sym triangle Bitcoin is in the process of forming is still progressing nicely. We dipped under 6k and then strongly bounced off the last possible trend line for this pattern to be legit, with of course, those very nice hidden bull divs on the DMI, Momentum and RSI giving you a heads up that we might not fall too far.
For this to now prove to me that we have a chance, we have to get to the top range of the pattern somewhere around 6700... failing to do so over the coming 72hour period will probably spell the end of this pattern for me.
So far it's ok though. Target for a breakout to the upside is still around that 8,200 region and if we breakout to the downside then we're looking at about 4800.
Over to you Bitcoin, very important pattern at a very important time.
For this to now prove to me that we have a chance, we have to get to the top range of the pattern somewhere around 6700... failing to do so over the coming 72hour period will probably spell the end of this pattern for me.
So far it's ok though. Target for a breakout to the upside is still around that 8,200 region and if we breakout to the downside then we're looking at about 4800.
Over to you Bitcoin, very important pattern at a very important time.
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