Bitcoin

Bitcoin: Bearish triangle unraveling this week-end

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It seems like price is out of the undecisive triangle pattern that formed between June 8th and July 12th, see the green lines between those dates. The highs (yellow horizontal dashes) were subsequently lower each time, following the upper green line until recently where the highs are now falling below, which is a confirmation that the triangle is unraveling to the downside. I had long DEFI positions that I exited this morning and realized a loss of -7%... The market bounced today, and yeah I could have shaved my loss by half but I think we now are headed lower so odds are I will be able to purchase lower. Triangles mean swift movements, so I wouldn't be surprised if we reach 25k... This may be the final low but if it's not then it might drip in some ending diagonal to 22k.

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