Have we really broken out?

١٧ أغسطس ٢٠٢٠

CME Futures chart of Bitcoin, regular scale, on the weekly time frame. If we connect the weekly candle (not the all time high) to the other highs we can see a triangle formation that hasn't broken out yet. We also see the futures gap (orange line) corresponding with the weekly EMA ribbon, which we like to come back to during bull markets (see 2017). I think we will come down and close the gap while bouncing of the EMA ribbon. Lets see how it plays out....