BTCUSD trading in a triangle pattern, and from experience we know that triangles are not always continuation patters. We will consider all possible moves the price can make. Looking at fundamentals and how much news and advertising going around that that BTC will rise to super new heights we will have to include that speculation in our analysis.
Comment:
We did had out bullish breakout with the price now consolidating.
Comment:
Price is pulling back to test the breakout. When the price gets to the down sloping line I will read the candlesticks if the price intersect the down sloping line and cuts back into the pattern then we will look at the horizontal support line as a guide.
Comment:
Price did not reach the down sloping line and created a bullish reversal (see candlestick) General behaviour of price after a break is to test the breakout area. Price pushed higher after this pullback to reach anticipated bullish target area and even higher.