$BTC Triangle Breakout

Looks like #Bitcoin is in the #SymmetricalTriangle.

This pattern is characterized by both the upper and lower trendlines converging towards a point in the future. It signifies a period of indecision or consolidation in the market.

Trading implications for a Symmetrical Triangle:

A breakout above the upper trendline is bullish, while a breakout below the lower trendline is bearish.

Due to the equal probability of a bullish or bearish breakout, traders often wait for the breakout to confirm their position.

Placing a stop-loss order just outside the opposite trendline can protect against a false breakout.