Symmetrical Triangle
Symmetricle Triangle on the daily chart.
Breaking up or down?
Bullcase: what speaks for a breakout to the upside is that the shorts liquidation levels are up around 70k which most likely is a area of interest for the marketmakers wanting to make hence meat by liberating the shorts of their holdings.
Target: coincides with the range high at 70k
Bearcase: Volume is fizzeling out... Bulls running out of steam? if so it will be easier for the Bears to sell in to the possible breakout to the downside.
Target: coincides with the range low at 50k
Breaking up or down?
Bullcase: what speaks for a breakout to the upside is that the shorts liquidation levels are up around 70k which most likely is a area of interest for the marketmakers wanting to make hence meat by liberating the shorts of their holdings.
Target: coincides with the range high at 70k
Bearcase: Volume is fizzeling out... Bulls running out of steam? if so it will be easier for the Bears to sell in to the possible breakout to the downside.
Target: coincides with the range low at 50k
Comment
Bulls are making a run for it... turn up that volume and we are likely to see close to that 70k
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