Bitcoin is forming a symmetrical triangle set to break out within 9 hours of the time I'm posting this. Technically these triangles have equal chances of breaking up or down, but this will likely break up due to the overwhelmingly bullish market forces. My bullish target for this breakout is $43,335. If we do break down, however, we could retest the $36,500 level and form a triple bottom, which would be a very bullish sign for bitcoin if we see that level acting as support. If you are following my account you would have seen that I posted a similar analysis for Ethereum, which is also set to break out of a symmetrical triangle approx. 1 hour before BTC. Remember to trade responsibly and thanks to all my supporters and followers who have been making great profits following my analyses.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.