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Pitchfork channel up to Descending Triangle Resistance for BTC
Comments on the chart pretty much spell it out.
Price action still looks too weak to break out above the descending triangle, but I think the next movement will cause a change in sentiment, and it will gain momentum and break out quite a bit higher, just because no one expects it to currently, so that will rek the most people (which seems to be the main objective of a market). So, currently, the default expectation is for it to fail to get above $7400, and then resume the downward trend from there. However, keep a close eye on it because I will not be surprised if it goes higher just to mess with everyone.
*Not trading advice. Just my personal thoughts and ideas.
Price action still looks too weak to break out above the descending triangle, but I think the next movement will cause a change in sentiment, and it will gain momentum and break out quite a bit higher, just because no one expects it to currently, so that will rek the most people (which seems to be the main objective of a market). So, currently, the default expectation is for it to fail to get above $7400, and then resume the downward trend from there. However, keep a close eye on it because I will not be surprised if it goes higher just to mess with everyone.
*Not trading advice. Just my personal thoughts and ideas.
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