Outlined in this chart, BTCUSD could be forming a larger triangle. This means we could see a temporary breakdown to the 8.5k range (6.5k at the lowest).
You can see the volume decreasing toward this several month equilibrium pattern we find ourselves in. You can also see the 20 and 50 week moving averages are looking for a place to cross soon, and should serve as supports and the basis for my previously mentioned 8.5k and 6.5k support level estimates.
You can see the volume decreasing toward this several month equilibrium pattern we find ourselves in. You can also see the 20 and 50 week moving averages are looking for a place to cross soon, and should serve as supports and the basis for my previously mentioned 8.5k and 6.5k support level estimates.
