Bitcoin may be in a descending triangle versus a descending wedge as many people think. I’m not sure which one it is in yet which is why my prior chart was of a descending wedge pattern which theoretically should end with a breakout of the falling wedge.
In the case of a descending triangle such as I am drawing here we should theoretically break to the downside. It’s possible that we break down to fill the CME gap at 7200 from the descending triangle. On the flip side if we are in a descending wedge we may breakout to fill the gap in the 11,000s.
In the case of a descending triangle such as I am drawing here we should theoretically break to the downside. It’s possible that we break down to fill the CME gap at 7200 from the descending triangle. On the flip side if we are in a descending wedge we may breakout to fill the gap in the 11,000s.
