Slight breakout from triangular resistance but in the end we dipped back below LT trendline; price currently maintains above 2k with lows touching off of triangular support.
If we can hold within pattern until crossover then there's a much higher chance we could see another bullish breakout. If not we'll likely drop back down to prior LT trendline.
Personally this reminds me of when I first purchased crypto in August 2020 and the market crashed for roughly 3 months before recovering.
So far it's only been about a month since we crossed 3k, and although volatile, further bearish momentum should be considered.
I'd suggest not making any risky trades here or invest more than you can afford to lose, if investing at all. Remember that trading is more about maintaining versus making.
If we can hold within pattern until crossover then there's a much higher chance we could see another bullish breakout. If not we'll likely drop back down to prior LT trendline.
Personally this reminds me of when I first purchased crypto in August 2020 and the market crashed for roughly 3 months before recovering.
So far it's only been about a month since we crossed 3k, and although volatile, further bearish momentum should be considered.
I'd suggest not making any risky trades here or invest more than you can afford to lose, if investing at all. Remember that trading is more about maintaining versus making.
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