Here is an update on BTC based on current downtrend and falling wedge patterns.
We can observe that the angle of each falling wedge (correction phases) is smoother and smoother which highlights that the bear cycle is closing to an end. However BTC even with this triple bottom, can breakout downward this descending triangle to test $6,000 or $5,400.
This analysis is based on: - Falling and rising wedge patterns - Trendlines, support and resistance - RSI
To enter a long term trade now the setup would be as follow: - Stop loss $6,000 - Target Profits: $7,200 / $7,800 / $8,200.
This forecast is not a financial advice, study, exercise yourself, put into question your reasoning. Well, strive to be a better trader tomorrow than we are today.