BitcoinLong
BTC FALLING WEDGE INSIDE BEARISH LONG TERM PATTERN... BREAKOUT?!
Summary: Found something interesting today, realized there was a falling wedge (bullish pattern) inside a longer bearish descending triangle.
Note: This is solely based on TA and any FA could cause a change. My longer term bearish outlook still plays as this wedge is inside that. It is provided below.
Bullish Points:
- A falling wedge would give BTC quite a bit of momentum as we test this upper trend long term trend line. The next trend line spot would be 6600-6700 which looks to be happening within the next month.
- RSI has been consolidating sideways within the wedge drawn.
- Volume has been consolidating as well on a longer period
Long Term Bearish Descending Triangle:
Note: This is solely based on TA and any FA could cause a change. My longer term bearish outlook still plays as this wedge is inside that. It is provided below.
Bullish Points:
- A falling wedge would give BTC quite a bit of momentum as we test this upper trend long term trend line. The next trend line spot would be 6600-6700 which looks to be happening within the next month.
- RSI has been consolidating sideways within the wedge drawn.
- Volume has been consolidating as well on a longer period
Long Term Bearish Descending Triangle:
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