This setup looks like a short Short

Bitcoin / U.S. dollarBitstamp

Description

⋅ Sep 5, 2023 7:40 PM

Bitcoin has formed a symmetrical triangle. Perhaps it is even a bearish pennant looking at the bar. In addition, triangles usually indicate a continuation of the trend and the diamond pattern under the lower edge also suggests this.

This is not financial advice.

Comment

⋅ Sep 5, 2023 8:28 PM

Diamond on the 5m chart:

Comment

⋅ Sep 6, 2023 1:16 PM

It appears to be more of a bear pennant now:

Triangle Pennant