Bitcoin looks like it is forming a megaphone pattern. This is a make-or-break for BTC in the near future, as vertex 4 is meeting the lower bound of the megaphone as well as intersecting with a support level at $52.8K. If we see support here, we will fill out the rest of the pattern, which would take us to new all time highs around $60K exactly. If we break down, we should see a lot of momentum and retrace through the vacuum zone to $49.7K. We are still bullish of BTC and cryptos in general but technical retracements and selloffs do happen.
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Hit our levels perfectly!! Got in at $48.4K 😎
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.