Bitcoin’s current setup creates an interesting risk-reward situation for bulls

The Bitcoin (BTC) chart has formed a symmetrical triangle, which currently holds a tight range from $28,900 to $30,900. This pattern has been holding for nearly two weeks and could potentially extend for another two weeks before price makes a more decisive movement.

Bitcoin/USD 12-hour price at Kraken. Source: TradingView

For those unfamiliar with technical analysis, a symmetrical triangle can be either bullish or bearish. In that sense, the price converges in a series of lower peaks and…

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