Bitcoin diamond

11 Mar 2022

From my previous analysis the bat reached its target. Now we can see a similar pattern forming, let's call it a diamond. It is usually a (temporary) reversal pattern, so I expect a breakout to the upside, but it will be possibly smaller than the previous pump. There is a strong resistance at around 42k given by the descending trendline. There is a chance we reach that resistance but I think 40900 is a safer target.