BTC refusing the mega bearish pattern..
Updated
During last two days we could observe a downward breakout from the consolidation symetrical triangle. This particular pattern with its pennant - symetrical triangle is considered as really bearish sing and was sending BTC back to 6k levels. As we can see now, BTC is instantly trying to invalidate this pattern by breaking back through it and through important fib. level at the same time. It is a good sign for BTC bulls but for invalidation of this pattern we need to see real breakout upside and bullish continuation to 42000-42500 resistance.
Note
BTC is still weak. Bulls did not manage to push BTC through the 37500 resistance level yet and the "mega bearish pattern" is still in play. It is crucial how today´s daily candle would close. If it closes above 35k we will probably see some more sideways action and the upward potential will stay in cards. If it will close under 35k I expect retest of the 30k with higher probability that more downside will follow.Note
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