BitcoinLong
Possible Breakout Next Few Hours.
Updated
BTC has been bearish since last week after the CBOE and CME hype. We are now seeing some consolidation in the 13K-15K range. Price is forming a symmetrical triangle with an apex at about 14K. Breakout is expected between now and Dec 26 6:00 UTC.
I believe Bitcoin will break up and reach a new ATH in about 2 or 3 weeks, as we have already seen many corrections similar to this one throught the year. There has been no negative news for Bitcoin, why go lower?
I believe Bitcoin will break up and reach a new ATH in about 2 or 3 weeks, as we have already seen many corrections similar to this one throught the year. There has been no negative news for Bitcoin, why go lower?
Note
BTC is currently struggling to re-enter the triangle. Breakout has not been confirmed yet as we have not seen a rapid price fall. Could still re-enter and break up, or could break down now and loose 1K within one hour. I'm still bullish. Would recommend waiting for a breakout before going long to minimize the risk.Note
Triangle re-entry.Note
Currently trying to break upwards. Re-testing previous resistance.Note
Breakout was successful. Upward trend continuation confirmed at 03:30 UTC. I believe BTC will be back at 20K in a few days.
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.