Bitcoin's 'Triangular Consolidation' Is Bullish: Technical Analysis

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Omkar Godbole is a Co-Managing Editor on CoinDesk's Markets team.

The leading cryptocurrency by market value has carved out higher lows and lower highs between $33,000 and $35,0000 in the past seven days, forming a triangle on the bitcoin price chart.

"Bitcoin is forming a triangle on the daily chart. It is generally believed that such consolidation formations end with an upward breakout," Alex Kuptsikevich, a senior market analyst at

 

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