Bitcoin price action has been consolidating and looks like it is giving us a bit of an ascending triangle or wedge on these shorter timeframes. Coming into the weekend it’s unlikely that we see a major move from Bitcoin, so I am expecting this consolidation/wedge area to continue to fill in. While this is mostly neutral for Bitcoin itself, it could suggest that there may be bullish altcoin trades to take while we continue in this pattern, so now may be a time to begin looking for trades and decide if any fit your trade strategies.
Bitcoin price action has been consolidating and looks like it is giving us a bit of an ascending triangle or wedge on these shorter timeframes. Coming into the weekend it’s unlikely that we see a major move from Bitcoin, so I am expecting this consolidation/wedge area to continue to fill in. While this is mostly neutral for Bitcoin itself, it could suggest that there may be bullish altcoin trades to take while we continue in this pattern, so now may be a time to begin looking for trades and decide if any fit your trade strategies.