Bitcoin Symmetrical Triangle Forming!

Hey guys, I noticed a symmetrical triangle is forming on the 15-minutes chart for Bitcoin as shown below:

(Note: price looks in this image looks like it is breaking out to the upside, but the candle still has 10 minutes until it closes, so we don't know yet.)

We can see that price is congesting and moving into smaller and smaller price ranges. So what does this mean for Bitcoin overall? Well, as with all markets when they go into congestion patterns, price has to break out somewhere, and in this case because it is a symmetrical triangle pattern, price could either break out to the upside or to the downside, we just do not know yet.

However, I believe if price breaks UPWARDS then this could be a sign that the small head and shoulders pattern (which can be seen here) will not play out and instead we will go straight up to confirm the large inverse head and shoulders pattern (see here).

On the other hand, if price breaks DOWNWARDS out of this congestion pattern, then we could in fact see the small head and shoulders pattern be confirmed and play out, dragging Bitcoin down for at least the short-term.

Update: Possibly an Ascending Triangle instead? Doesn't change much anyway, both ascending triangles and symmetrical triangles can break up or down, so not sure where this will break until the breakout occurs:

Let's wait and see what happens guys! Thank you for reading and all follows are appreciated and reciprocated :) (Trying to reach that 500 followers milestone!)

Legal Disclaimer: This is just my analysis and not to be taken as professional financial advice. Do your own research beyond what you read in my blog posts and make your own decisions based on your beliefs about what to invest your money in.