BTC - About to break out of massive triangle from peak to trough
BTC has stayed remarkably contained within the peak-trough triangle depicted above with razor-sharp precision. Now it is nearing the vertex of that triangle. By the end of June it will have to break out... either up or down.
Which way will it go? Long term it will be up, especially after the May halving. But the true rip higher will likely take place 12-18 months later, some time in the second half of 2021. This follows the pattern of the first 2 halvings as shown above, where it took 12-18 months after each halving to reach a new peak.
Even though the next peak may not take place until late next year, the long climb up toward that next peak should start near the vertex of this triangle in the next few months.
Which way will it go? Long term it will be up, especially after the May halving. But the true rip higher will likely take place 12-18 months later, some time in the second half of 2021. This follows the pattern of the first 2 halvings as shown above, where it took 12-18 months after each halving to reach a new peak.
Even though the next peak may not take place until late next year, the long climb up toward that next peak should start near the vertex of this triangle in the next few months.