The last two months' consolidation of BTC between 30K-40K USD. can be seen in 2 ways.
1) The Symmetrical triangle if this is the case then we have had a fakeout based on the back of Tesla news. This could be the case again as the whole of CT is anticipating the News might come On Monday from Amazon of BTC Purchase worth 1.8 Billion USD. Why the fakeout ...
Bitcoin entered the rectangle on 19th May, and it's now been 2 months by the end of this week.
At first, it was looking like a play button (pennant) but it later morphed into the rectangle with the boundaries 30K-41.5K.
Now for the weeks the bitcoin is trading between 32K-36K which is the lower boundary of the bigger rectangle.
What it tells me, there is...
Over the last 4 years of Crypto trading, few things remained consistent, Like volatility, unpredictability, and more but few patterns are very noticeable.
Like the pennants (I call them Play button) and they more often resume in the direction of the latest trend in this case which is a downtrend. If I am right in the call BTC may visit 20K ( 2017 ATH). But this...