The graph shows an upward bearish triangle, continuing to move along a downtrend. Cornelius Luca (reputable trader) explains this model in the following way - despite consolidation, demand is still lagging behind the supply.
It is clear that the resistance (supply) near $ 4,100 BitFinex, exceeds today's demand.
The possibility of forming a harmonious pattern AB = CD, and its goals were considered earlier:
It is clear that the resistance (supply) near $ 4,100 BitFinex, exceeds today's demand.
The possibility of forming a harmonious pattern AB = CD, and its goals were considered earlier:
Note
For the continuation of further growth, it is logical to unload the long positions that have grown on expectations, and to increase the shorts during the fallFutures market has reached the top of the downward channel
Note
We went down, adjusted the support of the triangle. When breaking through, you can consider opening the short
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.