ciekawy

all inverted. ascending triangle vs. rising wedge + forming cup

inverting char helps to be not too biased. Then we can see at least three structures...
please from a noobs perspective...what does it mean? Thanks for the share
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ciekawy bosamfo
@bosamfo, well I am not an expert too ;)
1. this is inverted chart - just to not be too biased with ones bull/bear perspective
2. I think most of observers agree that 5.8-6k seems to be pretty strong support so far
3. point 2. means if it breaks (i.e. along with the continuation triangle) the move should be strong
4. the wedge (continuation flag?) and the forming cup may suggest continuation to the new ATH - this may be also strong as the 6k tested number of times may suggest accumulation
5. not on this chart - there is significat rise of BTCUSDSHORTS on bitfinex - before it was boosting the upward moves due to a short squeeze

disclaimer - my bias is bullish in a mid/long term yet as usual it's market who decides which way to go
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bosamfo ciekawy
@ciekawy, thanks for the education and response :D
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