Good afternoon!

An update for you on the symmetrical triangle that I have been posting here for a few weeks...

The price of Bitcoin is clearly squeezed between the upper resistance line and the lower support line. This indicates a possible big move in the coming days or weeks.

The upper line has been tested several times (red arrows), but has not yet been broken. It is acting as an important barrier, and a break of this line would indicate buying strength.

On the other hand, the lower line has acted as strong support, with the price reacting every time it gets close to this region, showing that buyers are still defending this level.

We know that in symmetrical triangles, the breakout tends to follow the previous trend. Since the triangle was formed after a significant rise, the highest probability is for it to break upwards, continuing the upward movement that began at the end of 2023.

This is a gigantic triangle that may still develop in 2024 and only be defined by the end of the year... the important thing here is not to lose USD 48 thousand and to close below this level.

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