As we can see on the hourly candle Bitcoin is literally walking the line of resistance a breakout would mean a massive price action $40,000 in no time and everything else pumping as a result! Full Bull mode!
There is nothing much we se on the higher time frame so let's have a look at lower time frame. The 15min chart is telling us something! There are two ways to look at it due to the wick we can say there is a bull flag forming with a price target of $39,000!
But on the other hand there is a descending triangle if we don't count the wick. This one has more touchpoints so it can be considered to be more valid and the price target is $36,600 again!
This is very difficult spot due to the fact that there is a lot of talks about Grayscale spot Bitcoin ETF on the horizon but at the same time many traders is expecting a correction to $34k
The price action will be decided most likely by tomorrow or end of the week the latest. We might have a volatile weekend! I personally feel this is going to be crazy much more crazy than 2020 and we didn't even had a having yet! I mean have a look at this we are literally 130 day from having 4months!
I am confident to say that by the time having occurs, Bitcoin price will be above $40,000!
All The Best,
Aventurine!
