Dear crypto friends,
BITCOIN is currently trading in a bigger symmetrical traingle in a MAJOR downtrend. so my expectations for a huge rally are somewhat tempered. I don't believe we will go up because there is very low volume, and the market is still very controlled by bears. If we look at the chart we see the symmetrical triangle. a symm triangle is valid if there are 2 or more touches on the lower line and 2 or more touches at the upper line (blue dots) so we see this is valid. We are still in a donwtrend and usually the symmetrical traingle is a continuation pattern that follows the trend. My play is to wait what bitcoin descide to do and where the breakdown occurs.
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BITCOIN is currently trading in a bigger symmetrical traingle in a MAJOR downtrend. so my expectations for a huge rally are somewhat tempered. I don't believe we will go up because there is very low volume, and the market is still very controlled by bears. If we look at the chart we see the symmetrical triangle. a symm triangle is valid if there are 2 or more touches on the lower line and 2 or more touches at the upper line (blue dots) so we see this is valid. We are still in a donwtrend and usually the symmetrical traingle is a continuation pattern that follows the trend. My play is to wait what bitcoin descide to do and where the breakdown occurs.
If you like this idea, please give a like and follow us for daily BTC updates.
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