BTC ready to break out of symmetrical triangle…down to $35k?
Bitcoin / Tether KUCOIN:BTCUSDT
Since April 25, BTC has been moving in a channel creating a big head & shoulders pattern.
On April 30, it entered what became a smaller head & shoulders pattern rising into a symmetrical triangle pattern . This symmetrical triangle is ready to break out. I think there will be a fakeout to the upside weekly pivot point followed by a sharp drop.
In addition to the general bear sentiment, it is the week after new moon which in the majority of cases correlates with big dumps.
NFA
