UnknownUnicorn1626565

Triangle directing Bitcoin to the top C, pattern AB = CD

Short
BITFINEX:BTCUSD   Bitcoin
The graph shows an upward bearish triangle, continuing to move along a downtrend. Cornelius Luca (reputable trader) explains this model in the following way - despite consolidation, demand is still lagging behind the supply.

It is clear that the resistance (supply) near $ 4,100 BitFinex, exceeds today's demand.

The possibility of forming a harmonious pattern AB = CD, and its goals were considered earlier:
Comment:
For the continuation of further growth, it is logical to unload the long positions that have grown on expectations, and to increase the shorts during the fall

Futures market has reached the top of the downward channel
Comment:
We went down, adjusted the support of the triangle. When breaking through, you can consider opening the short
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.