Bitcoin seems to have been contracting in a falling wedge
Chart is self explanatory. Markets Bottems usually lead to bull runs.
Chart is self explanatory. Markets Bottems usually lead to bull runs.
PetarFabris
I think this is descending triangle:) Falling wedge would be with at least two lows, one lower than the previous, and upper resistance line with bigger slope than support line
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Ckeefe420
PetarFabris
@PetarFabris, That is correct my friend I do believe BtC is very indecisive at the moment. You could be correct but on the other hand if this triangle wedge plays out until march we could get the next reaction low that you are talking about followed by a breakout reaction high to form the upper trend line. My first prediction was for a breakout by the end of January but the last reaction high has now moved my chart into march.. Which has made me think this falling wedge is correct. A desending triangle can form in no time but a falling wedge has to be at lease 3 - 6 months which would indicate a reversal breakout in march.
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