The purpose of this article will be to give a brief update on the price of Bitcoin (on an analytical level of course).
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When you think about it — it hasn’t necessarily broken ALL the way out of that downside of the triangle. There’s no denying the fact that Bitcoin is in a descending triangle formation at this point in time.
Although, there is a slight chance of reversal (it happens more often than you’d think)
For those that are convinced that Bitcoin is in a symmetric triangle:
The following picture seems to be a prequel for what will happen in terms of Bitcoin price action:
Not sure if there’s really too much more to the price action of Bitcoin at this very moment that we need to really have a look at.
I’m just tentatively watching the markets and observing the news to get a better gauge of how things will move.
Disclaimer: This is not financial advice and I do not have a position in Bitcoin at the moment.