Bitcoin has been in an ascending triangle formation since the low at about $19500 on March 10th. It has tried to break $28700 since March 19th but has been rejected there 9 times since. The target once the breakout occurs is the depth of the triangle added to the breakout level of $28700. The height of the triangle is $28700 - $19500 = $9200. The price target upon breakout is $28700 + $9200 = $37900.
The odds of BTC breaking this triangle is higher than the normal 70% since ETH broke its ascending triangle yesterday in anticipation of the Shanghai fork on April 12th.
The odds of BTC breaking this triangle is higher than the normal 70% since ETH broke its ascending triangle yesterday in anticipation of the Shanghai fork on April 12th.