Bitcoin (BTC) has run its course trading within an ascending triangle and will now have to break out. Needless to say, the majority of the crypto community expects the price to break above this ascending triangle. A lot of people seem to be completely unconcerned about the manner in which the price is growing. If it keeps moving sideways and then keeps pumping, most of them will not mind as long as it doesn’t begin to do the same thing in the other direction. However, that is the thing about pumps and dumps. There is a pump which is followed by a dump and the price reverts to its mean. The way in which BTC/USD has pumped the past few days is not sustainable in any way. The price is due for a sharp decline which is an eventuality that we are going to see sooner or later. There is no other way around it.
That being said, we could see the price rise towards $5,500 or even $6,000 short term although that is very unlikely. It would also be very obvious as the majority of traders and…
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