To all you calling my mistake when identifying this pattern, you're absolutely right I was wrong and that's not a descending wedge. It seems that you're reading this as a bearish pattern according to your book. Let's see if the book is right. What I wanted is to illustrate as an amateur trader and a crypto enthusiast is that absolutely bullish.
The only way I see this market "testing" the 2800-1500 range is by a quick and huge capitulation candle.
FAIL.. sorry that's a perfect bear flag but good luck . we could test the 4400+range but would still be a bear flag pattern.
WE MIGHT SQUEEZE ANOTHER 20-25% then it will be down she goes .
Navelgazer
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@zutta, you might be right but I think shorting here wont worth the risk maybe? If you believe in BTC are you going to risk being left out when the rocket lifts?
zutta
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sound like same comments i was reading when Btc was over 6k. now those people are in hopium to get back to break even . we are still in a clear downtrend to at least middle to end of year . I believe in what i see on the chart :) good luck
WE MIGHT SQUEEZE ANOTHER 20-25% then it will be down she goes .