Broadening Descending Wedge for Bitcoin == Bull Move Incoming
Descending Broadening Wedge on BTCUSD chart indicates a bullish breakout when it will exit the channel.
It could be days, weeks or months away, but it is the general trend and likely outcome I see, anyway.
Of course, I could be wrong. I'm just going with the statistics here.
Beyond that, the world's situation with the CoronaVirus (Covid-19) and the markets generally being down as a result of recent changes in the market conditions, will surely have as yet untold impact on price action, so it may indeed be too early to forecast any change in the downward trend.
All the same, looking forward several months, the statistical probabilities remain that we will return to greener days once the current red tide passes.
Until then, Short this Ponzi! :)
It could be days, weeks or months away, but it is the general trend and likely outcome I see, anyway.
Of course, I could be wrong. I'm just going with the statistics here.
Beyond that, the world's situation with the CoronaVirus (Covid-19) and the markets generally being down as a result of recent changes in the market conditions, will surely have as yet untold impact on price action, so it may indeed be too early to forecast any change in the downward trend.
All the same, looking forward several months, the statistical probabilities remain that we will return to greener days once the current red tide passes.
Until then, Short this Ponzi! :)
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