On the 1HR, we can see Bitcoin getting squeezed here in a symmetrical triangle pattern. Eventually, the price is going to break from this pattern, and a relatively big move will follow. To the upside or downside, no one can say. Symmetrical triangles are more likely to break upwards. Pair that with Bitcoin's increasing positive sentiment, and we may see another pump. Keep your eyes on the charts for the next few hours!
DYOR and bring home those gains.
DYOR and bring home those gains.
Note
RetestNote
Retest of higher levelsNote
Potential breakout, unconfirmedNote
Price briefly touched $63K as markets closed for the weekend, now we just watch and wait and see if exchanges can drive enough momentum to push us up this weekend.Note
Currently retesting the upward resistance as a new support level.Note
I have expanded the chart and changed to a shorter time frame to get a better picture of the support and resistance levels. It looks as though we may be in a larger symmetrical triangle pattern than I previously thought. We still look absolutely primed for a big move.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.