BTC trend reversal on the cards with a breakout of this pattern.
Hi all I currently believe BTC is in a falling wedge pattern, reasons are as follows...
Reasoning
- Downtrend made of lower highs & lower lows
- Trend line connecting the lower highs is steeper
than the one connecting the lows
- Decreasing sales volume
This gives 2 scenarios -
1/ A breakout to the upside which would indicate a trend reversal along with a probable push to $45k +
2/ Rejection at this level would likely see BTC break down to the $34k for a quick pause before going lower to the sub $30k region.
Keen for your thoughts
Blockbullder
Reasoning
- Downtrend made of lower highs & lower lows
- Trend line connecting the lower highs is steeper
than the one connecting the lows
- Decreasing sales volume
This gives 2 scenarios -
1/ A breakout to the upside which would indicate a trend reversal along with a probable push to $45k +
2/ Rejection at this level would likely see BTC break down to the $34k for a quick pause before going lower to the sub $30k region.
Keen for your thoughts
Blockbullder