Great news at least in the short term with BTC making higher lows, breaking resistances, and getting back into the lower 50k region.
However, we urge caution. The asymmetrical descending triangle was a reversal pattern that lead us to this pump.
In the same way, this asymmetrical ascending triangle could cause a corrective dump.
Because the triangle patterns are not symmetrical or have a flat upper or lower trendline then fundamentally speaking it is presenting as a reversal pattern.
BTC loves triangles and majority of triangle patterns play out.
That being said the trend is up and we aren't fighting it (THE TREND IS YOUR FRIEND), but we are taking profits and tightening our stop losses.
However, we urge caution. The asymmetrical descending triangle was a reversal pattern that lead us to this pump.
In the same way, this asymmetrical ascending triangle could cause a corrective dump.
Because the triangle patterns are not symmetrical or have a flat upper or lower trendline then fundamentally speaking it is presenting as a reversal pattern.
BTC loves triangles and majority of triangle patterns play out.
That being said the trend is up and we aren't fighting it (THE TREND IS YOUR FRIEND), but we are taking profits and tightening our stop losses.
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