Bitcoin, which had a nice rise last week by exceeding $ 35,000, has been continuing its horizontal movements at $ 34,000 in recent days.
While investors were having a dilemma about whether there would be a rise or a correction next for BTC, a positive comment for BTC came from FxPro senior analyst Alex Kuptsikevic.
Speaking to Coindesk, Alex Kuptsikevich pointed out that Bitcoin formed a triangle on the daily chart.
Stating that such triangle formations are a harbinger of an upward rise, the analyst continued his words as follows:
“Bitcoin is forming a triangle on the daily chart. It is generally believed that such consolidation formations will end with an upward breakout.
A break above $35,000 will confirm a breakout of the bullish triangle and an upward move. This will indicate that the rise starting from $ 26,500 will continue.
Triangles generally continue in line with the previous trend, but it should not be forgotten that in some cases there may be a downward break. Therefore, investors need to closely monitor price movements in the next few days.”
Bitcoin continues to trade at $34,470 at the time of writing.
*This is not investment advice.
