Triangle on BTC. Short term uptrend, medium term downtrend (shown on chart in different colors). How do people think this will resolve? I believe it will drop further before returning to bullish trend. I would be happy to be wrong.
Please share your thoughts.
Thank you all!
Please share your thoughts.
Thank you all!
Note
Update:Price broke the ascending channel, but bounced off resistance of the smaller descending channel. It may now use the short term trend line (blue line in chart) as support and bounce back up.
Note
Note
If the price does continue to rise, redraw the channel to fit, if it continues to fall the ascending channel is no longer active. In the case of a true break return your attention to the descending channel values.Note
Charlie lee news caused a panic selloff, but the market is bouncing back. News broke the ascending channel, but the price continues to bounce off (blue) the bullish trend line. 
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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.