Hello, dear members of LeoFinance!
Let me just post a short updated on the price chart of Bitcoin.
So, on the 4-hour chart (4H), BTC/USD has exited the Descending Triangle:
However, in my view, it is quite possible that just the trajectory of the triangle changes and BTC/USD just continues to consolidate within the triangle in the next couple of weeks.
Also, I consider another scenario as quite possible. It may turn out that the price of Bitcoin drops below the lower line of the triangle, and forms a Bullish Flag in the daily chart (1D) and in the 4-hour chart as well:
Please note, that both technical patterns are viewed as trend continuation patterns.
To be continued ...
As of the time of writing, one Bitcoin costs $32'699,87 on Bitstamp crypto exchange, according to TradingView.
A few words about me:
Just to let you know: I've been working professionally as a currency analyst for the last 14,5 years, and as a cryptocurrency analyst for the last 3,5 years.
Important!
Keep in mind, that thoughts expressed here are my own, and they should not be regarded as recommendations for any cryptocurrency/commodity trades, investments and etc.
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