Must Read: As The Bitcoin Rally Started? Watch This Key levels

In our Bitcoin previous analysis Bitcoin Testing Major Support! Will It Hold? , we identified a Triangle pattern that was forming in the BTC 15 minutes timeframe. The Bitcoin price is currently trading within this pattern and we were watching for a potential bounce in price.

Well, that bonce has finally happened. And in this Bitcoin analysis, we will be updating our outlook on the pattern and the key levels we are currently watching.

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Bitcoin Rally Started. What Next?

We believe there is a very high probability that the bullish rally in Bitcoin has started. This move higher was confirmed by the price breakout of the mini reversal pattern that formed at key support in the 15 minutes timeframe.

So in the coming days, we might see the BTC price continue to rally up until it smashes the top of the triangle pattern, where we expect to see key resistance.

Final Verdict!

The Bitcoin price is currently forming a Triangle Pattern in the 15 minutes timeframe. Right now, the BTC price is still ranging within this pattern and we as traders are taking advantage of this sideways market for small scalps.

But once this triangle pattern is completed, we expect to see a massive move for Bitcoin!

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