Get your shorts ready, the drop won't be all at once, but a 4-5 day climb down to a lower level. Don't long until after the halving. (Upper white resistance is drawn from the previous ATH and ~14k high)
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Now that this has gained traction I must add that arrow is not an exact level at which we'll find our next target, it's merely showing the general direction of movement (down) Don't take this as financial advice, this is just an exercise in deduction.
Trading by trends and important areas using the example of BTC
Combined a teaching idea and a trading idea.
SpartaBTC
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@SpartaBTC, Here is a trading idea with the potential formation of a symmetrical triangle.
The idea was published in June 2019.
BTC is the possible formation of a global triangle. Altpump
tuckerx2
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I'm sorry but I have to disagree with your TA, that upper white trend line has nothing to do as resistance for the price, There is not enough touches with the trend line you drew with price as resistance. The rising channel you drew is good that you identified to point out further downside though.
UnknownUnicorn6337578
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@tuckerx2, The upper white trend line looks better on line and 1M candle charts, I agree that it looks very sloppy here. Considering the amount of emotions running high during the two previous highs, it's hard to draw an exact line from these two points that would be objective in my opinion. I consider it a blurry region rather than a sharp line.
tuckerx2
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@Leoxiphos, fair enough but I suggest you check out my ideas and see how I do things different