The ups and downs on bitcoin have progressively scene smaller swings over the past couple months.
After topping out in late June price has made lower highs at the peak of moves while holding support at the 9400 or 9800 level.
This has created a descending triangle pattern.
As you can see looking at the chart we are getting closer and closer to the apex of that triangle, meaning price action is getting tighter and tighter.
It's just a matter of time until we get a move breaking out of breaking down from this pattern.
Who knows, it could be the catalyst to some volume coming in for some real price movement.
I'm not going to speculate on which way it will resolve. I just know if we break 9400 I will be buying at 8500, assuming it gets there.
If price breaks higher than I will look for a buying opportunity most likely on a break of 11,000. Though I prefer to wait for a pullback after any push. Sometimes you don't get it though.
I am going to speculate @scaredcatguide..
I think the next big move after this pattern will be up..
BUT.. that's only based on the volume that's come in since the move from $3,500 - $4,000 USD.
There is still a chance the price can move down first.
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I can see that especially since everyone is trying to buy a dip to 8500 at this point, prob wont happen.
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That's another good point @scaredycatguide 😀
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This move is taking so long! I've been waiting for it since we first made a lower high, it's been months! And the indicators are maddening! Some of them indicate a move up, some indicate a move down, some of them change daily, a descending triangle is normally a dump pattern, which is a counter trade signal, but we are now in a uptrend which might influence it, so many factors... Let's wait and see, I got the same targets and the same sell and buy limits as you do.
Meanwhile, where the hell is the altseaon xD?
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EXACTLY, forget BTC I need some alt season like something fierce!
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