@ghose12, I see your point but during this phase of such a large formation you can expect low volume buys and a lot of bear traps, I have noticed during these formations on BTC in particular the lower trendline is hugged (tested far more than the upper line).
If the market manages to close below the line at any point i'll be with you for more moves to the downside.
I'm expecting the market to tighten for the next 2 weeks, maybe as money is spread into alts and then a continuation to and beyond 20k
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