jollygreen

Bitcoin's Bearish Ascending Triangle 2020-04-01 - Which Way?

KRAKEN:BTCUSD   Bitcoin / U.S. Dollar
Hi all,

Here we find ourselves still in limbo mode near the bottom of the structure from early March.

It appears that Bitcoin is creating a bearish ascending triangle structure with a little bit more room to move up. However the global trend is still downward.

The next few days will be critical to see if the the market action turns into a bullish reversal or breaks down continuing the bearish trend!

Watch the trend across multiple time frames! We have multiple triple RSI tops forming which is indicative of bear strength as well as short term bearishness with 1H MACD wavering and high Stochs on shorter term time frames.

45 min | 3H | 12H | 3D

Happy trading!

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I am a simple market analyst - not a financial analyst
fortis Fortuna adiuvat - fortune favors the brave
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