Possible bullish scenario for Bitcoin
If the bottom at the 6th of february was the true bottom and the trend reversed to bullish, the symmetric triangle that is forming could be a bullish continuation of that trend.
The volume indicator is not in favor of this as it shows no strenght during peaks. But as OTC trades grow, this might be a possible explanation.
The volume indicator is not in favor of this as it shows no strenght during peaks. But as OTC trades grow, this might be a possible explanation.
Note
Also about volume, it is normal for it to go down as a whole during triangle formation. Should pick up after a break.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.