Major Descending Triangle forming on BTC 1W
Something I noticed the other day in my VLOG that got my willies and hackles fairly raised!
We want arguably 2 more touches of the upper trend line and another touch of the 30k lower trend line before we get too carried away with it. Its unconfirmed so far.
What I wouldn't mind to see in the coming months is a week or longer of price action at the 40k mark to FIRMLY record a higher low, then bounce and at least reach the previous 53k high. This is an example of a scenario that gets us bullish again.
Really important to break this upper trend line and erase it from our minds! We don't want that trend line hanging over us like it did may/june/july, if BTC does that we looking at returning to bear market.
We want arguably 2 more touches of the upper trend line and another touch of the 30k lower trend line before we get too carried away with it. Its unconfirmed so far.
What I wouldn't mind to see in the coming months is a week or longer of price action at the 40k mark to FIRMLY record a higher low, then bounce and at least reach the previous 53k high. This is an example of a scenario that gets us bullish again.
Really important to break this upper trend line and erase it from our minds! We don't want that trend line hanging over us like it did may/june/july, if BTC does that we looking at returning to bear market.
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