This triangle pattern has been going on since mid 2017 and is about to come to an end!
These pattern will generally breakout after 3 cycles of touching the highs/lows. My bias is bullish on Bitcoin as a lot of the DeFi hype will continue to lock in more BTC and more ETH out of the circulating supply. Bears will likely get exhausted soon and the following rally will be massive.
With all the uncertainty looming over the market at the moment and the continued stimulus by the FED, investors will continue to seek high yield assets to protect themselves against fiat devaluation and negative interests policies.
Looking for a weekly close above ~5.50 for a reversal and a clean breakout.
Eyes open folks!
These pattern will generally breakout after 3 cycles of touching the highs/lows. My bias is bullish on Bitcoin as a lot of the DeFi hype will continue to lock in more BTC and more ETH out of the circulating supply. Bears will likely get exhausted soon and the following rally will be massive.
With all the uncertainty looming over the market at the moment and the continued stimulus by the FED, investors will continue to seek high yield assets to protect themselves against fiat devaluation and negative interests policies.
Looking for a weekly close above ~5.50 for a reversal and a clean breakout.
Eyes open folks!