Bitcoin has spent the last days consolidating, more or less, and the rise from 34k recent low to 38 is in a tight channel which, in my opinion, should be a concerning signal for bulls.
Also, in the last days of trading, the price stayed very close to the ascending trend-line support of the symmetrical triangle and gives a sign that the break will be probably down.
A break of this support would expose 30k zone and a short trade with this target can have a 1:2 R:R.
A break up above 38k would negate this scenario and put Bitcoin in a good position for new all-time highs.
Also, in the last days of trading, the price stayed very close to the ascending trend-line support of the symmetrical triangle and gives a sign that the break will be probably down.
A break of this support would expose 30k zone and a short trade with this target can have a 1:2 R:R.
A break up above 38k would negate this scenario and put Bitcoin in a good position for new all-time highs.
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