Descending Triangle Fakeout
Updated
Bitcoin has developed a descending triangle and is currently attempting a break to the downside on relatively weak volume with a golden pocket just below the triangle.
Because it is the weekend there is relatively weak volume in both directions - lets see if we get a bounce off the golden pocket and some buyers stepping in.
Because it is the weekend there is relatively weak volume in both directions - lets see if we get a bounce off the golden pocket and some buyers stepping in.
Note
Volume came in with bearish follow through - lower PT from measured move was hit.
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