Cryptocurrency
This Massive Ascending Triangle Could Send Bitcoin Rocketing Higher
As reported on NewsBTC, “Bitcoin’s turbulent price action over the past few days hasn’t offered too many insights into its near-term trend, as the crypto has yet to break above or below any key technical levels. “Analysts are now pointing to the emergence of a highly bullish pattern that may have major implications on its […]
As reported on NewsBTC, “Bitcoin’s turbulent price action over the past few days hasn’t offered too many insights into its near-term trend, as the crypto has yet to break above or below any key technical levels.
“Analysts are now pointing to the emergence of a highly bullish pattern that may have major implications on its near-term outlook.
“This ascending triangle has been formed over the past couple of weeks, with the upper and lower boundaries of the pattern both being confirmed on multiple occasions.
“If validated, this pattern could allow the benchmark cryptocurrency to post significantly further gains in the coming weeks once it is able to break above its upper boundary at $12,000.
“This pattern also comes as Bitcoin begins flashing some signs of overt strength due to its strong reaction to its support at roughly $11,200 that was tapped overnight.
“The confluence of this pattern with a strong market structure seems to indicate that a breakout rally is imminent…”