BTC Potentially On Path To Breaking Upward To Test 16k
In this chart a symmetrical triangle has been identified on the hourly. It was entered in upwards movement, if the pattern should prove true, it will continue to break upwards out of this triangle to test 16k.
Considering this is the hourly chart, this breakout could happen tomorrow. When It goes to test the 16k major resistance, its a coin toss.
Don't make any assumptions it will break said resistance, but be ready for a double top as well as a pump in price. Anything can happen.
If a double top is to happen, I suspect we may travel back down between 10-15k.
Considering we are in the bullish season now, I would put the likely hood of it breaking 16k to be a higher chance, simply due to market sentiment, and our steady gain closer to BTC's all time high.
Trade smart, don't think that it cannot go low, because it will. Good luck.
Considering this is the hourly chart, this breakout could happen tomorrow. When It goes to test the 16k major resistance, its a coin toss.
Don't make any assumptions it will break said resistance, but be ready for a double top as well as a pump in price. Anything can happen.
If a double top is to happen, I suspect we may travel back down between 10-15k.
Considering we are in the bullish season now, I would put the likely hood of it breaking 16k to be a higher chance, simply due to market sentiment, and our steady gain closer to BTC's all time high.
Trade smart, don't think that it cannot go low, because it will. Good luck.
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