stanosky

Falling wedge or inverted cup and handle?

Short
BITSTAMP:BTCUSD   Bitcoin
I think the latter, though. The wedge looks like an elaborately laid bull trap. Many are just waiting to enter a long, but that could be a big mistake. Generally speaking, when I see two patterns competing with each other I choose the one that I think is more pronounced, and this wedge does not look good to me.

Of course I could be wrong, this is normal. Nothing here is 100% certain. However, I recommend caution. Global economy is in a recession, anything can happen.

This is not financial advice.
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.