This is a real quick one for those interested on when bitcoin will take a definitive direction.
This is not financial advice but my personal opinion.
I've kept this one simple as I just want to show potential breakout dates of the huge pattern we've been forming.
A break down signals a long crypto winter and a break up will be confirmation of trend reversal which will spark a new bull run eventually.
Key dates are 30/09 due to the SEC decision on the CBOE Bitcoin ETF which is taking place as the pattern is very narrow on 30/09. A delay here would signal a neutral outlook, a denial could break us downward from the descending triangle of 2018 and an approval could trigger an upward break.
Should the neutral outlook play out - the pattern has nowhere left to go after 30th October and we will know - based on seasonlity of bitcoins trend I would have a bullish bias if we are still within the triangle come late October or a neutral outlook with further sideways action signalling a true consolidation phase.
This is not financial advice but my personal opinion.
I've kept this one simple as I just want to show potential breakout dates of the huge pattern we've been forming.
A break down signals a long crypto winter and a break up will be confirmation of trend reversal which will spark a new bull run eventually.
Key dates are 30/09 due to the SEC decision on the CBOE Bitcoin ETF which is taking place as the pattern is very narrow on 30/09. A delay here would signal a neutral outlook, a denial could break us downward from the descending triangle of 2018 and an approval could trigger an upward break.
Should the neutral outlook play out - the pattern has nowhere left to go after 30th October and we will know - based on seasonlity of bitcoins trend I would have a bullish bias if we are still within the triangle come late October or a neutral outlook with further sideways action signalling a true consolidation phase.