Looks like the BTCUSD is in a pennant just ready for a break out. It has found support and hasn’t closed below the lower trendline of the pennant. The market has retested recent lows and there has been price rejection lower than 9600. A breakout upward looks imminent although it could still take another week until there is a confluence of the upper and lower trendlines .
This also looks like it may be the formation of a right shoulder of a bullish head and shoulders pattern.
Next steps in confirmation of the move would be that the market continues to make higher lows and eventually close above the upper trendline.
This also looks like it may be the formation of a right shoulder of a bullish head and shoulders pattern.
Next steps in confirmation of the move would be that the market continues to make higher lows and eventually close above the upper trendline.