BitcoinShort
Bitcoin Triangle formation for possible bearish trend correction
After initial strong bearish relief and the countering rally of the bulls, the market has been floating in a significant range also forming a symmetrical triangle.
Due to huge resistance and possible gaps in the still overall bullish trendline on 4h. A strong break and close below triangle walls could indicate further bearish relief but strong bullish diagonal TL support is met leading to profitable RR.
Due to huge resistance and possible gaps in the still overall bullish trendline on 4h. A strong break and close below triangle walls could indicate further bearish relief but strong bullish diagonal TL support is met leading to profitable RR.
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.