B166ERcrypto

Bitcoin Decided to Squeeze Further Into Triangle-Breakout Likely

Panjang
KRAKEN:BTCUSD   Bitcoin
After attempting a breakout of the downward sloping resistance Bitcoin has decided to squeeze into the remaining space of the triangle it is in. I think it's quite bullish that it even attempted the breakout and consider it imminent. Here's why:

The squeeze is on, the symmetrical triangle is usually a continuation pattern.

Who will win?

The Bulls, or the Bears?

The Bears have 7 months of declines.

The Bulls have a 10 year track record of winning at the bottom support line.

I will put my money on a 10 year trend before a 7 month trend any day. It's all about probabilities, right?

Peace, Love, & Crypto,
B166ER

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