I won't pretend to know which direction I think the market is heading. Symmetrical triangles are potentially the most difficult pattern to trade. In fact, these patterns are commonly found at the end of trends as well.
My inclination is that there is a greater possibility of breaking down than breaking up. Why? I look at the other markets around us. I liken Bitcoin as a leading indicator. So it is possible Bitcoin is currently distributing.
In the chart above I have two items listed. The and the that has been respected as support and as resistance. In my view, the channel hold more weight than the triangle. A daily close below the channel could be the beginning of a reversal for the overall market.
It hard to have a bias when price is in such a . However, I'll remain true...Bias: .