Bitcoin (BTC) Evening Update: Sideways Price Action Means Symmetrical Triangle
Bitcoin's (BTC) price action today basically went sideways. Per below chart, it's either putting in the finishing touches of the white abc or another pattern needs to be assessed.
This pattern looks quite fitting given the sideways action. It could be labeled as complex but the symmetrical triangle pattern provides as much sideways action but the price is moving very well to the contracting lines. There should be one more smaller up and a down to bring price closer to the apex.
The longer term bull flag pattern remains valid and in progress. The final C would touch or briefly pierce the longer term support line.
The MACD is or price has not yet invalidated the wave 1 and 2 relationship. Let's see how the overnight price activity pans out.
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