Bitcoin is either forming a huge descending triangle or symmetrical triangle.
Descending triangles more often break to the downside.
Symmetrical triangles to the upside, especially in uptrends.
We've been in a bullmarket, meaning that this will more probably be a symmetrical triangle breaking to the upside.
This is confirmed bullish if we make a macro higher high (break roughly above 12k). If we get rejected from the upper trendline or from the redbox, next macro target would be 9k support.
I'll be posting my position ideas as the trend develops.
Descending triangles more often break to the downside.
Symmetrical triangles to the upside, especially in uptrends.
We've been in a bullmarket, meaning that this will more probably be a symmetrical triangle breaking to the upside.
This is confirmed bullish if we make a macro higher high (break roughly above 12k). If we get rejected from the upper trendline or from the redbox, next macro target would be 9k support.
I'll be posting my position ideas as the trend develops.
