From what i can read out of this chart, the current triangle is targeting 3k range, i see two areas which BTC will probably make a small bounce on before we get there:
3500 range
3200 range
When we hit close to the lows of the 3000 range im farily confident we will see a massive increase in volume and buying interest that will give bitcoin a huge relif rally, how far this will take us is probably to 4.5-5k range (6k) max, then we will probably looking for a consolidation range/new trading range around mid 3k levels for a long. Prepare for a new boring market until we get institutional investors.... Lets see what Bakkt and fidelity can do.
I dont see 1k btc, just no way. too much people looking to fill their bags below 3k that will put pressure in the opposite direction.
3500 range
3200 range
When we hit close to the lows of the 3000 range im farily confident we will see a massive increase in volume and buying interest that will give bitcoin a huge relif rally, how far this will take us is probably to 4.5-5k range (6k) max, then we will probably looking for a consolidation range/new trading range around mid 3k levels for a long. Prepare for a new boring market until we get institutional investors.... Lets see what Bakkt and fidelity can do.
I dont see 1k btc, just no way. too much people looking to fill their bags below 3k that will put pressure in the opposite direction.
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Relif rally, however we managed to break out from the sloping resistance, looks like the drop from here will be even harder.
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