Bitcoin and the Impending Squeeze
I believe that Bitcoin is currently in the process of forming a triangle squeeze in a range just under the big weekly sym triangle, with an eye to breaking out of it in early June.
My actual prediction for what is likely to happen is that we get rejected again around the 9800 region (if we make it that far, we then fall back down and continue to make higher lows on the daily squeezing into mid June before finally breaking UP out of the smaller triangle we form. The squeeze will be aided by the rising 50 and 200EMA which hopefully will support and squeeze us into this narrow range.
Here you go...
This is voided should we close a daily below the base support of the prior rising wedge formation we broke out of.
My actual prediction for what is likely to happen is that we get rejected again around the 9800 region (if we make it that far, we then fall back down and continue to make higher lows on the daily squeezing into mid June before finally breaking UP out of the smaller triangle we form. The squeeze will be aided by the rising 50 and 200EMA which hopefully will support and squeeze us into this narrow range.
Here you go...
This is voided should we close a daily below the base support of the prior rising wedge formation we broke out of.
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