Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
⋅
We failed to beat the downtrend of resistance through 2018-2019. This downtrend of resistance is marked to be the toughest resistance to beat. After BTC free falls from $ 6.000 level, we seem to be trading sideways in 3.000 area. It kept falling to make higher high, as we are still in the bear market.
However, this sideways range is telling us a story, that a bear pennant remains relevant as it tried to test the downtrend of resistance many times and failed.
We are still in the bear market and this is not the tail of it. We have to see it fall again in order to complete this falling wedge.