Potential ascending triangle for BTC
We might be forming a large ascending triangle...
1. We just got rejected from the previous ATH which gives us two touch points at the top.
2. We also just formed two touch points thanks to the rally from the 30K bottom, which might end up being the right shoulder of the triangle.
3. Also, the 21 WMA is rising and it would make sense to retest it and use it as support to break the ATH
Adding to that the fact we went almost 65% up from the end of September until now, it would make sense to correct/consolidate, before we break the previous ATH.
I'm short-term bearish and mid/long term bullish.
1. We just got rejected from the previous ATH which gives us two touch points at the top.
2. We also just formed two touch points thanks to the rally from the 30K bottom, which might end up being the right shoulder of the triangle.
3. Also, the 21 WMA is rising and it would make sense to retest it and use it as support to break the ATH
Adding to that the fact we went almost 65% up from the end of September until now, it would make sense to correct/consolidate, before we break the previous ATH.
I'm short-term bearish and mid/long term bullish.
Penafian
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