After reaching an ATH on Nov 10, BTC has been consolidating for 3 days now. 50EMA is climbing faster than 200EMA.
BTC has formed a formation which could turn into both: ascending triangle (bullish) or rising wedge (bearish). When the price breaks out of the triangle/wedge lines we should be able to identify price direction for the next couple of weeks. However, after a previous rise in March – April, rising wedge has formed (that looked just like the one forming now) and price dropped more than 50%.
Please keep in mind that shorting BTC is a rather risky idea!
BTC has formed a formation which could turn into both: ascending triangle (bullish) or rising wedge (bearish). When the price breaks out of the triangle/wedge lines we should be able to identify price direction for the next couple of weeks. However, after a previous rise in March – April, rising wedge has formed (that looked just like the one forming now) and price dropped more than 50%.
Please keep in mind that shorting BTC is a rather risky idea!
Comment:
It now seems we are looking at the red option. Another rising wedge it is.