$BTC MEGAPHONE PATTERN IS GETTING TIGHT
If you want to stand in front of this megaphone pattern forming on Bitcoin, be my guest.
But if $BTCUSDT breaks above the $83.5K upper boundary, the move could become very aggressive very quickly.
The reason this $BTCUSDC pattern is so explosive is the repeated traps on both sides.
BTC breaks above a previous high breakout buyers enter price reverses.
BTC breaks below a previous low enter price rallies. fresh shorts
A constant cycle of bull and bear traps.
Eventually, one boundary breaks for real. Traders trapped on the wrong side are forced to exit, adding fuel to Bitcoin's move in the opposite direction.
Above $83.5K, that direction is up.
That's not a BTC move I'd want to stand in front