Bitcoin: Triangle & Bearish Channel Update
I told over the last couple days that the bearish channel is extremely important, as long as price stays inside, is it way too dangerous so better sell and wait on the side lines. Inside the bearish channel, Bitcoin price is tracing what looks to be a descending triangle. It is not clear if the triangle is over or not, but the final resolution of that pattern is soon. I would say the odds of going down are higher than the odds of going higher. I know some well known chartists like TechDev are seeing that triangle is a bullish coil like that one seen in September. Based on my experience, they are different and this one is not the good type... Time will tell.
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