Expanding or broadening triangles typically bearish

BINANCE:BTCUSDT   Bitcoin / TetherUS
According to Edwards and Magee, Technical Analysis of Stock Trends, 1948, the expanding or inverted triangle is typically a bearish manifestation. While in the case of Bitcoin I do not think the pattern will produce a bear market, I do think that the advance from the early Jan low has gotten ahead of itself. I would anticipate a broad trading range at this time.


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