BTC is currently trading in a symmetrical triangle. This pattern is indecisive and has a 50/50 chance of breaking to the upside or downside. Meaning in the coming days or weeks, BTC will have a major breakout.
My guess would be to the downside but honestly, the direction wont be clear until it actually breaks out.
We have descending triangle forming on the hourly/daily charts. I believe we will see a sell off once below 374.80. Possibly down to the 360 area. Since the Fed will be raising rates again in February, were going to be in for another choppy/bloody hard market to trade this year. If you made it out alive this year, that is something to be proud of.
I believe the...
CME:BTC1!
the descending triangle is about to follow through. were on our way to drop to the next major support area around 13k. would not be shocked see down to 10k area if macro economics doesn't change
