Yesterday I posted that Bitcoin has broken out of the symetrical triangle and said that it might get rejected again at $35,000 - Bitcoin did exactly that!
If you have traded and taken my non financial advice, lol you have booked your profits!
After reaching $35,100 Bitcoin reversed and went all the way down to $33,400 and at the time of writing it is seating at $34,500 that signifies we have a strong resistance at 35,000 and strong support at $33,400.
In this case we can only expect one thing - Bitcoin getting a squeeze followed by a volatile breakout! Next great trade opportunity is on the horizon!
I am writing this on a mobile so I can't post good images but it appears Bitcoin is forming an ascending triangle (bullish pattern) breakout today or tomorrow the latest! I will be watching the development and will update pictures on this article later once I get to the computer!
UPDATE: I just got back and turned my computer and I see completely different scenario lol. Bitcoin has not reached the $35,100 yet! I have looked at completely different chart without my drawings and got mislead!
So far the highest point is $34,860 that's $300 difference But we can see Bitcoin bounce of the break line and $35,000 is still on the card!
In fact we can also redraw the lines and see there is ascending triangle with many touchpoints - that is also bullish!
The breakout of that one is set to be by Wednesday!
All The Best,
Aventurine
