Bitcoin is maintaining an ever narrower range. It faced some headwinds this weekend, taking it back to $33K, before consolidating around $36K. We appear to have a pennant pattern forming, which suggests a breakout soon. Due to the previous bear trend, this pattern is likely to break down, rather than up, unless we get a surprise wave of buying. We will again see support from $30K, which seems to be a lower bound but the more comfortable Bitcoin gets testing $30K, the more comfortable it is to break this level and test the $20K's
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.