Bitcoin collecting in triangle again. Momentum now bullish.
Bitcoin dropped and got bought up fast at previous price lows. This shows that the buyers are still very greedy, but they are hiding it well. How will sellers take advantage of this? Probably they will test to see if buyers will continue to show up. If even one time the buyers don't come out at those previous lows the sellers will probably go for a choke out.
The opposite could happen and buyers could keep the pressure up. If they push out of the top of the triangle, which is now much less far away since we've traveled sideways, and therefore easier to accomplish, then more buyers will flock, and the sellers will begin reversing their positions.
Most likely some much more ridiculous scenario will unfold. Price action is never as clean as the story.
The opposite could happen and buyers could keep the pressure up. If they push out of the top of the triangle, which is now much less far away since we've traveled sideways, and therefore easier to accomplish, then more buyers will flock, and the sellers will begin reversing their positions.
Most likely some much more ridiculous scenario will unfold. Price action is never as clean as the story.