Prepare for a big move

Updated

Looks like we are in another infamous Bitcoin triangle. We had a nice short squeeze to $465, followed by a brutal long squeeze into the 350s. I suspect once this triangle resolves we should get a juicy move out of it. Personally I am leaning (and hoping) for a push to the downside. Simply looking at the Open Interest levels, I just don't see us having the buying power to make new highs. But hey ... this is Bitcoin, and anything is possible.

Good luck!

Note

It appears we have broken the lower trend line, and fallen to the bottom of a bigger triangle. Let's see if the $380 level holds. This could be the same scenario, except in a larger triangle.

Note

Current state of the new Triangle, let's see if this level holds:

Turco

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