Bitcoin is Fueling up for a Huge Uptrend
BItcoin has been trapped in a symmetrical triangle for 2.5 years which has a 60% chance of an upside breakout and a 40% chance of breakdown.
While consolidating near the top (red circle), inclining towards a breakup has a higher chance.
A Symmetrical triangle mostly makes a breakout close to 70% of the overall wedge while it is close to 66-68% showing more consolidation for a few weeks maybe or a final shakeout towards 7000$ region.
200 Weekly moving average the red dotted line in the upper half always managed to save bitcoin and the (blue arrows) in the upper half shows you the history.
The below half of the illustration shows you the indicator that has been the most prominent and efficient in claiming bottoms and a new cycle.
While consolidating near the top (red circle), inclining towards a breakup has a higher chance.
A Symmetrical triangle mostly makes a breakout close to 70% of the overall wedge while it is close to 66-68% showing more consolidation for a few weeks maybe or a final shakeout towards 7000$ region.
200 Weekly moving average the red dotted line in the upper half always managed to save bitcoin and the (blue arrows) in the upper half shows you the history.
The below half of the illustration shows you the indicator that has been the most prominent and efficient in claiming bottoms and a new cycle.
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