Price is testing the bottom of a symmetrical triangle, and is getting close to breaking out. If price breaks down, we will continue to head towards the bottom of the trend-channel defined in 2017; $8000ish. If price breaks-out the other way we could get a rally to the top of the bearish channel and 13k resistance before continuing towards 8k.
A better look at the triangle on the H4, currently holding above bottom trend-line
Here's the idea from last time, the move towards 8k is still valid.
The weekly chart looks very bearish still, you can see the ascending trend channel better on this chart.
A better look at the triangle on the H4, currently holding above bottom trend-line
Here's the idea from last time, the move towards 8k is still valid.
The weekly chart looks very bearish still, you can see the ascending trend channel better on this chart.
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