#BITCOIN $BTC Pending Direction 02.06.2021

$BTC closed marginally above 8 EMA and is still in a possible triangle formation. There is a chance of a few more swings within the triangle before it is resolved.

Forecast:

As soon as a triangle/pennant boundary is broken through, we would have a direction, at least for a short term. So far, a significant bearish pressure from the monthly and weekly frames.

  1. If the triangle is broken up, the next target zone – 39000-41000.
  2. If the triangle is broken down, min target – 25000-20000, then 9000.

Some possible paths were charted in my weekly update – link below.

So far, as I type, neither ETH nor ADA has broken their triangles.

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Latest $BTC Weekly:

Latest $BTC Monthly:

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