Bitcoin Looking for a Huge Move!
Looking at the four hour chart we have a clearly forming symmetrical triangle. Volume is declining and the range is getting tighter. Expecting a breakout by the 20th of Jan.
This pattern gives some huge targets of around
49K if we break up or 26k if we breakdown. Pay close attention, this is going to be wild!
Personally I am very unsure of which way this could go. A break down would make sense to reset the RSI on the weekly timeframe, and would match the previous Bitcoin bull market a bit better. But the pattern could also be interpreted as a bullish pennant, and so we should expect to more likely to break up. No bias either way from me.
This pattern gives some huge targets of around
49K if we break up or 26k if we breakdown. Pay close attention, this is going to be wild!Personally I am very unsure of which way this could go. A break down would make sense to reset the RSI on the weekly timeframe, and would match the previous Bitcoin bull market a bit better. But the pattern could also be interpreted as a bullish pennant, and so we should expect to more likely to break up. No bias either way from me.
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