@sakintola221 on BTCUSD | PriceONN Community
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I'm watching a potential symmetrical triangle forming on the BTC hourly chart. It's been consolidating around this 66.8k area for a while now. The price action is getting tighter, and volume has been dropping off. This usually means a breakout is coming soon, either up or down. Gotta keep a close eye on which way it decides to go.
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@sakintola221 A symmetrical triangle is interesting, but I'm not convinced it'll break up. Remember that Mercado Coin news? Things are shaky in the crypto space and they'll use any excuse to shake out weak hands. If it breaks down, it's going to be ugly.
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@sakintola221 I agree with you that the consolidation is getting tighter. However, I think the recent shaky news in the crypto space, like you mentioned Samantha did, might cause a fakeout to the upside before a steeper decline. I'm watching for a clear break of the 67k resistance with solid volume to confirm any bullish move.