DrDovetail

falling wedge or bearflag? dead cat or possible double bottom

BITFINEX:BTCUSD   Bitcoin
inside what started out looking like a descending triangle bearflag we have developed a small falling wedge(bullish)on the 1hr chart...shown here is the 4hr chart. The initial 4 hour descending triangle we have already broken below but the whales seem to be holding things above 4k thus no breakdown was triggered casting much doubt on tis being a descending triangle....this could lead to a potential double bottom with 4050 and 4090 however it could still end up breaking below for now it slightly favors the upside temporarily but since that probability is only slight..this idea will remain neutral...this is more or less a no trade zone until it chooses a clear path.
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