Big Move AHead!?
BTC had a hard month and might be ending the year below 50k. The rising wedge we have had already breakout to the downside and touched the target breakout of $46,712.19, so now we are waiting for another pattern to form and see where it will take us. In 1-Hour Timeframe we are currently forming a Double Bottom (W) pattern which shows bullish. It looks like a big move with 4% move to the upside once it has a confirmed breakout at $49,509 which is our expected price as well. Enormous size options expire today at the end of 2021, thus we are expecting a massive move from Bitcoin, if that is the case, this is the current pattern that support such massive move.
We will discuss more on the possibility on our Live. Stay tune and check with us!
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Disclaimer: Above technical analysis is pure educational information, not Investment Advice. The information provided on this post does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.