BTC has been bearish since last week after the CBOE and CME hype. We are now seeing some consolidation in the 13K-15K range. Price is forming a symmetrical triangle with an apex at about 14K. Breakout is expected between now and Dec 26 6:00 UTC.
I believe Bitcoin will break up and reach a new ATH in about 2 or 3 weeks, as we have already seen many corrections similar to this one throught the year. There has been no negative news for Bitcoin, why go lower?
I believe Bitcoin will break up and reach a new ATH in about 2 or 3 weeks, as we have already seen many corrections similar to this one throught the year. There has been no negative news for Bitcoin, why go lower?
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BTC is currently struggling to re-enter the triangle. Breakout has not been confirmed yet as we have not seen a rapid price fall. Could still re-enter and break up, or could break down now and loose 1K within one hour. I'm still bullish. Would recommend waiting for a breakout before going long to minimize the risk.
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Triangle re-entry.
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Currently trying to break upwards. Re-testing previous resistance.
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Breakout was successful. Upward trend continuation confirmed at 03:30 UTC. I believe BTC will be back at 20K in a few days.