Personally, I see two primary outcomes and a third that the majority believe. BTC is currently sitting at the resistance it seemingly is being rejected from after today's spike. Check my previous idea to see we more or less expected a breakout but what the breakout means is something else entirely. In my view,
Option #1 is we have established a range in which we will be riding up and down until we reach an apex that drives BTC to its ultimate decision.
&
Option #2 is we have broken the triangle's very strong resistance and established a rising trend support that will drive BTC up for some time.
&
Option #3 is this was a false break out and we will re-enter the previous triangle and test new lows, maybe even to 20k.
I personally don't like to make hard predictions as BTC is increasingly becoming more unpredictable but in my opinion, we will continue to see more unexpected movement. I'm leaning towards option #1, as it seems like the safest bet. Option #3 seems increasingly less likely and I would be surprised by a complete and total collapse going forward. Option #2 is wishful thinking but an observation nonetheless. All things to think about and consider. Hope this helps
Option #1 is we have established a range in which we will be riding up and down until we reach an apex that drives BTC to its ultimate decision.
&
Option #2 is we have broken the triangle's very strong resistance and established a rising trend support that will drive BTC up for some time.
&
Option #3 is this was a false break out and we will re-enter the previous triangle and test new lows, maybe even to 20k.
I personally don't like to make hard predictions as BTC is increasingly becoming more unpredictable but in my opinion, we will continue to see more unexpected movement. I'm leaning towards option #1, as it seems like the safest bet. Option #3 seems increasingly less likely and I would be surprised by a complete and total collapse going forward. Option #2 is wishful thinking but an observation nonetheless. All things to think about and consider. Hope this helps
Note
This very rough estimate of a path forward back then is oddly pretty accurate except for the size of the pumps. Wierd
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.
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.