Bitcoin has been stuck in a triangle

Aug 26

Hello, dear friends🫶 How are You doing here?

Since February 24, 2024, Bitcoin has been stuck in a triangle pattern, moving only within its boundaries. This is a pattern of uncertainty that can easily mislead traders. The key to understanding the next direction lies in a potential breakout—though caution is advised, as false breakouts can occur. Currently, the price is moving within the triangle towards resistance levels around $67,000 to $68,000. We'll need to keep a close eye on the price action as it approaches these levels.

https://www.tradingview.com/x/B1z3xeCA/

As for a potential bull run, I don't see any strong signals indicating a significant price increase at the moment. For now, I suggest focusing on short-term prospects and closely monitoring the market's behavior. Let's stay cautious and wait for clearer signs before making any major moves.

Always stay informed and trade wisely🫶
Your Kateryna💙💛