Despite low volatility the pattern for BTC favors the bulls
With two triangles forming one large descending triangle the outlook looks bullish from a pattern formation.
After breaking trend line X of the large descending triangle pattern the price dropped back to an area of buying interest at the intersection of trend line 4 and trend line X. Internal momentum for trend is not strong, but trend line 4 is acting as a guide of support as price slowly creeps higher.
Volatility is extremely low, which is a sign of an imminent breakout in price. With this pattern holding for the bulls, a breakout of volatility should favor a bullish sentiment.
Thoughts?
After breaking trend line X of the large descending triangle pattern the price dropped back to an area of buying interest at the intersection of trend line 4 and trend line X. Internal momentum for trend is not strong, but trend line 4 is acting as a guide of support as price slowly creeps higher.
Volatility is extremely low, which is a sign of an imminent breakout in price. With this pattern holding for the bulls, a breakout of volatility should favor a bullish sentiment.
Thoughts?
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