I hate to be negative but it looks to me like BTC is forming a bearish rising wedge pattern. As I have said before long term I remain very bullish on BTC.
A Rising Wedge typically forms during a "reaction rally" following a significant downtrend. Because of that, it often results in a downward break and a continuation of the previous downtrend.
A Rising Wedge typically forms during a "reaction rally" following a significant downtrend. Because of that, it often results in a downward break and a continuation of the previous downtrend.
Note
Sorry, I just noticed that I wrote rising ascending wedge pattern. Should be just rising wedge pattern.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.