Large breakout imminent!!!
Several patterns to take into consideration here:
There is a large ascending triangle, marked in green, which is a bullish pattern and gives a likely target of approximately $70000 after a break up and approximately $43500 after a break down.
An inverse head and shoulders pattern can be seen within the ascending triangle, sharing a neckline with the resistance of this triangle. This also gives an approximate target of $70000 after a break up and approximately $51000 after a break down.
For about the last 6 months bitcoin has been bouncing between support and resistance in a very large narrowing rising wedge. Technically, this is a bearish pattern, however it is evident that we are in a very strong bull trend at the moment and the possibility of breaking up increases due to the ascending triangle and the inverse head and shoulders
There is a large ascending triangle, marked in green, which is a bullish pattern and gives a likely target of approximately $70000 after a break up and approximately $43500 after a break down.
An inverse head and shoulders pattern can be seen within the ascending triangle, sharing a neckline with the resistance of this triangle. This also gives an approximate target of $70000 after a break up and approximately $51000 after a break down.
For about the last 6 months bitcoin has been bouncing between support and resistance in a very large narrowing rising wedge. Technically, this is a bearish pattern, however it is evident that we are in a very strong bull trend at the moment and the possibility of breaking up increases due to the ascending triangle and the inverse head and shoulders
Feragatname
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