slightly more negativley but in line with my suspicion that...

slightly more negativley but in line with my suspicion that BItcoin is consolidating

BTC/USD

Though Bitcoin broke out of the downtrend line, it did not reach our expected target objective of $16,000. Failure of the bulls to capitalize on the breakout of the downtrend line is a bearish sign.

We find a symmetrical triangle developing, which is a continuation pattern. The cryptocurrency is currently retesting the breakout levels of the triangle. If it holds the $14,000 levels and reverses direction, we suggest long positions above $15,500.
If the BTC/USD pair falls below $14,000, it is likely to fall to the neckline and below that to the trendline of the triangle. A breakdown of $12,000 levels will be negative, which can extend the fall to $8,000 levels.
Therefore, traders should keep a stop loss around $13,500 once their long positions are triggered. Also, avoid buying below the specified levels.