Multiple Patterns On The Hourly BTC/USD chart
For the past few days, it looks like an inverted H&S pattern (highlighted in yellow) has been forming. The length from the head to the neck implies that BTC will ascend toward the mid 40s if it punches through. Zooming out a little further, a descending wedge pattern (highlighted in blue) looks visible. BTC has bounced from the upper line of this wedge five or six times, indicating some obvious resistance. The red line is the previous resistance line from the fierce downtrend last week, which may now act as a level of support, should BTC remain within the blue wedge pattern.
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