Bitcoin – triangle’s breakout soon!

15.05.2022 2:56 pm

Hello, everyone!

I am still in long trade and today we can see that the Bitcoin shows us something interesting.

BTC is forming the symmetrical triangle which is the classical trend continuation pattern, but we have to watch out the side which the price choose for the breakout. I don’t like to trade breakouts, but I will take into account the breakout side in my current trade management.

Look at the triangle’s height target to the upside. It corresponds exactly with the 0.61 Fibonacci level of the last downside impulse. This is my target which I pointed out earlier. Let’s see what happen.

Good luck!

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