Over the last weeks we had a beautiful triangle pattern forming. Depending on the direction of the Breakout (closure of 1H candle above or below drawn resistance lines) the near-term future of BTC will be decided. If BTC breaks out to the upside, prices could reach approx. 45500 USD before bouncing back. However, the supporting trend line (green) increases the likelihood that the resistance at 45500 USD will eventually break as well and let prices continue their path towards 48000 USD.
In case that prices will breakout to the downside, BTC could fall to the strong support of 40500 after which the continuing downward sloped trend line (red) will increase the likelihood of prices crashing through 40500 to eventually reach the next big support area which I see at approx. 37000 USD.
In case that prices will breakout to the downside, BTC could fall to the strong support of 40500 after which the continuing downward sloped trend line (red) will increase the likelihood of prices crashing through 40500 to eventually reach the next big support area which I see at approx. 37000 USD.