Quite simple and interesting chart.
Descending trendline has about 1 year from Year to date.
Ascending triangle resistance (red zone) + descending trendline converge (the crossroad)
If the price breaks clearly with a strong bullish candle or non reversal candles ABOVE descending trendline, a Bullish future may be starting in the long run.
In the short term it would be a nice time to buy once a candle closes completely above the red support descending triangle area.
In other scenario if BTC breaks below the ascending trenline (same way as mentioned for the upper breakout) and fails to break that descending trendine, a bearish continuation is quite likely IMO.
That's my opinion. If you'd like, share your thoughts below !
Descending trendline has about 1 year from Year to date.
If the price breaks clearly with a strong bullish candle or non reversal candles ABOVE descending trendline, a Bullish future may be starting in the long run.
In the short term it would be a nice time to buy once a candle closes completely above the red support descending triangle area.
In other scenario if BTC breaks below the ascending trenline (same way as mentioned for the upper breakout) and fails to break that descending trendine, a bearish continuation is quite likely IMO.
That's my opinion. If you'd like, share your thoughts below !