We have a symmetrical triangle, and the price of BTC is rapidly approaching the point, so it will need to break upwards or downwards soon. The dotted line is a trendline, and since the price of BTC is currently below that, it serves as a line of resistance. In my opinion, this favors a break to the downside. If we break to the downside, there is always the chance of completion of the H&S formation I outlined in a previous chart, which would be significantly bearish.
Comment:
Wow, that didn't take long! The price has broken through both the symmetrical triangle and the resistance line (bears be damned)! If it holds, it may mark an end to our correction....