Chart patterns still suggest a downturn, possible breakout soon.
Updated
If you look at the chart patterns, we still have a bear flag, and a rising (kinda) wedge. When you combine this with the blow off top (after parabolic rise), the odds are still in favor of the bears. On the other hand, this is reminding me if what happened around 7.5k, its good to remember this is a bull market and the correction might not happen at all. Regardless, it looks like we are near the end of a wedge so a breakout is about to happen soon.
Comment
note: new to trading, just figuring these patterns out, don't make trades using this.Comment
apparently the rising wedge pattern I found is actually an ascending triangle (just found out about this pattern), this increases the chances of a breakout to the upside but I still think a correction is more likely.Comment
and it has began.
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