BTC TRIANGLE
So I'm looking at the 12hr and what I'm seeing is an incomplete triangle pattern trying to play out. If price doesn't bust out here then we looking at a bearish pattern and more likely a break to the downside. When we get into the E wave, we may see a price pump. Soon after that it will hit a resistance level and fall dramatically. ABCDE. With E ending up top of the pattern, a downside will occur.....IMO
With talk of recession etc, fundamentals point down. So I'ma say a great chance to short is nearing. We may see the massive drop, a retest, then a drop once the pattern has completed in the next few days.
With talk of recession etc, fundamentals point down. So I'ma say a great chance to short is nearing. We may see the massive drop, a retest, then a drop once the pattern has completed in the next few days.
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.