$BTC and #crypto undertaking consolidation process
After the last week´s bull run, the expected pull-back has taken or is taking place.
The Bitcoin price increased around 40% in a few days and half of this rise has already gone down, performing a pull-back that had to happen to consolidate the end of the bearish channel that has lasted 18 months.
Now, the price is making the third triangle in matter of 5 days. Just to remember, triangles are patterns in which the price breaks strongly up or downwards when it is about to be completed. This new symmetrical triangle is almost completed. In case it does the breakout upwards, it could mean that the bull rally is very likely to continue. On the other hand, if it breaks downwards, the consolidation process could drive the price down to $6,000.
Hihgly recommendable to be patient if you are looking for loading your pockets with Bitcoin, Ethereum and other cryptocurrencies until the market make up its mind.
The Copilot
The Bitcoin price increased around 40% in a few days and half of this rise has already gone down, performing a pull-back that had to happen to consolidate the end of the bearish channel that has lasted 18 months.
Now, the price is making the third triangle in matter of 5 days. Just to remember, triangles are patterns in which the price breaks strongly up or downwards when it is about to be completed. This new symmetrical triangle is almost completed. In case it does the breakout upwards, it could mean that the bull rally is very likely to continue. On the other hand, if it breaks downwards, the consolidation process could drive the price down to $6,000.
Hihgly recommendable to be patient if you are looking for loading your pockets with Bitcoin, Ethereum and other cryptocurrencies until the market make up its mind.
The Copilot
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