BTC/USD Update
Regrettably, it looks like a down-trendline is starting to solidify. Although it is almost too steep to be defined as a trend, the price seems to be respecting the downtrend that started in February. Although rising pendents or wedges are often seen as bearish patterns, I'm hoping the price can move back within the pendent and subsequently break to the upside of the dominant trendline. If we close today outside of this pendent I would imagine the price to bleed back down to test some lows of the original crash around 4000-5000.
A noteworthy metric is that the volume has remained low during this potential breakout.
A noteworthy metric is that the volume has remained low during this potential breakout.
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