Price tested past $37.5k, immediate reversal (seen in the ABCD Triangle Pattern)
Reconsolidated back up to the $37.5k level and held from Nov 10th to Nov 12th where after the third test of the new high, the downtrend took hold.
Since price didn't continue to rise, the forward motion essentially formed a wedge. That wedge drove price down, it must move somewhere,...
My goal is to wait for the consolidation after this latest pump. On the retouch of the ema(50) I plan to open a Long position then ride it to the assumed double top that will form.
Bitcoin has finished consolidating however the volume continues to shrink. I suspect we are on the edge of a reversal trend before we see a higher push. I believe BTC will drop to the bottom of this current channel, depicted in the graph.
This took a second to post, as it is my first. During this time frame the hour candle closed, slightly confirming the short.
