Bitcoin Price Analysis prior triangle breakout 🔀
Updated
Hi! Price showing obvious triangle shape. Looking at the previous market movements and behaviours on right charts, you might notice same structure over past few years, with different end result.
Back in 2018 we saw the breakdown towards downtrend.
In the 2020 we traded similar setup with bullish outcome.
Notice interesting structure inside triangles. In bullish scenario I see wedgy shapes and in bearish structure I see descending channel and triangle.
Today price sloping towards apex of triangle and price developed few wedges inside triangle. Any breakout will be supported by traders which following market closely and in case of breakdown we might see last holders will sell out in fear if price shakes down.
Stay focused on the market behaviour on next 2 weeks, it will take time to confirm the breakout either way so don't rush trades in the panic.
Back in 2018 we saw the breakdown towards downtrend.
In the 2020 we traded similar setup with bullish outcome.
Notice interesting structure inside triangles. In bullish scenario I see wedgy shapes and in bearish structure I see descending channel and triangle.
Today price sloping towards apex of triangle and price developed few wedges inside triangle. Any breakout will be supported by traders which following market closely and in case of breakdown we might see last holders will sell out in fear if price shakes down.
Stay focused on the market behaviour on next 2 weeks, it will take time to confirm the breakout either way so don't rush trades in the panic.
Trade active
Well guys break from triangle down. Means we might see prices 28ish and even 26ish
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