It Bitcoin about to pop off to new waters? Perhaps 50k+?
Well, we may just be about to see, as BTC made a Symmetrical Triangle on the BTC-USD chart!
That's at the top of the chart, after a pretty big runup to 49k.
That's...a big triangle.
Is this it? Or am I misreading things?
It's breaking out as I write this. We're about to see!
NOT TRADING ADVICE! Educate yourself and be responsible!
Don't put all your eggs in one basket!
Edit: Now that the chart has moved a bit more, it seems even less clear to me.
It appears like right at the tip there might be a triangle with a ascending bottom.
That may mean I was actually completely wrong.
That appears to be an ascending triangle at the end of a downward channel.
Even tho it makes up part of what kind of looks like a symmetrical triangle, the symmetrical triangle now does not seem as clear as the triangle with an ascending bottom.
But what's more, is that the channel kinda looks like a massive flag.
This might be either a huge win to trade on, or a huge loss.
Trade responsibly! Educate yourself!
Edit 2: Here's the chart of the recent movements in larger context:
You can of course look at the chart yourself and make your own determinations.