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📈 BTC/USD exiting the «Symmetrical Triangle» | 06-08-2020

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cryptospa
@cryptospa
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Hello, dear members of LeoFinance! LeoFinance!

In the daily chart (1D), BTC/USD is trying to exit the «Symmetrical Triangle», in which it stayed for over two years and a half:

Theoretically, a Symmetrical Triangle chart pattern is interpreted by chartists as a period of consolidation before the price is forced to breakout or breakdown.

In addition, the Symmetrical Triangle is considered to be a continuation pattern. Thus, in the case of BTC/USD (where the major trend is an uptrend) it is highly probable that the price chart will exit the triangle in the upward direction.

Let me share once again some statistics about the Symmetrical Triangle chart pattern, according to Central Charts: source: https://www.centralcharts.com/

So, fellow LeoFinancier, do you think that Bitcoin is resuming the uptrend?

p.s. at the time of writing one Bitcoin costs $11839.60 according to LeoFinance

A few words about me:

Just to let you know: I've been working professionally as a currency analyst for the last 14 years, and as a cryptocurrency analyst for the last 3 years.

Important!

Keep in mind, that thoughts expressed here are my own, and they should not be regarded as recommendations for any cryptocurrency trades, investments and etc.

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Posted Using LeoFinance

Posted Using LeoFinance