BTC descending triangle - update
UPDATED from 
Trade still active. Redrew some lines slightly to better align.
Trade still active. Redrew some lines slightly to better align.
Trade active
Even though we dropped below 6k, the trade is still active. Initial guess was a bottom between 6.0k and 6.5k. But remember that a support or resistance level is always a zone in which a reversal or movement can happen.We are seeing a huge candle on the BTC 1h, 2h and 4h charts now, which is a perfect reversal indicator.
Alligning with the start of Q8 (within a week), this would be a perfect timing for closure of the correction triangle as shown in this analysis.
Over the next week I expect movement to high 7k regions (7.5 - 7.9), this leaves us to retest the upper resistance when we enter July!
Fingers crossed guys!
Note
Q8 = Q3 of course....Note
And with candle I meant hammer...
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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.