Bitcoin (BTC) Is Hours Away From Confirming or Rejecting Rally
I'm noticing two triangles forming on the hourly chart.
One starts back on the 20th with a downward trend line acting as resistance with the bottom of the triangle starting on the 25th acting as support.
The other triangle pattern starting about 9 hours ago.
My assumption is that sometime in the next 4 hours, BTC is going to make a run either above the resistance trend line and confirm that we are in full on rally mode OR we will see it aggressively fall below the support trend line and possibly test the $50,455 mark from a couple days ago.
Don't get caught up in the hype and over-leverage any trades without tight stop losses.
Be safe!
One starts back on the 20th with a downward trend line acting as resistance with the bottom of the triangle starting on the 25th acting as support.
The other triangle pattern starting about 9 hours ago.
My assumption is that sometime in the next 4 hours, BTC is going to make a run either above the resistance trend line and confirm that we are in full on rally mode OR we will see it aggressively fall below the support trend line and possibly test the $50,455 mark from a couple days ago.
Don't get caught up in the hype and over-leverage any trades without tight stop losses.
Be safe!
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