The Bitcoin price action now finds itself in a downward pressure inside a Descending Triangle. Traditionally a bearish pattern, however in Bitcoin charts they do sometimes tend to break on the upside.
Clearly there is a stronger sell pressure right now, but so far every time Bitcoin does these mini-consolidations, it rallied to the upisde. It presents itself again here, would this be enough to break the downward pressure? Tell me what you think.
Clearly there is a stronger sell pressure right now, but so far every time Bitcoin does these mini-consolidations, it rallied to the upisde. It presents itself again here, would this be enough to break the downward pressure? Tell me what you think.
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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.