After reaching the strong resistance and liquidity level of $45000 the Bitcoin price dropped a little bit and started the consolidation. We can see that it formed the symmetrical triangle. This type of patterns have 2 possible scenarios:
Scenario 1. The true breakout scenario. In this case the $46000 is the target according to triangle’s height. After that I expert the correction to the stop-losses and liquidations for the long positions zone ($40500).
Scenario 2. The current breakout is the manipulation and we will see $40500 next.
How to predict this? There is no way! It’s just the analytics, not the signal. The last long signal was at $36300 where I bought BTC and now I use this analytics to find the exit, but NOT the entry point.
Bitcoin – local price action