Many traders see the very dangerous situation on the Bitcoin price chart. The current situation looks like the descending triangle which was formed at the $45500 and was broken down. The current lower highs lower lows price action looks very dangerous but it is forming the falling narrowing wedge which in combination with RSI bullish divergence have the high probability to be broken to the upside.
What do you think, will BTC break to the upside or downside?
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I think we'll see a bit of both, a push to the upside to liquidate some of the longs that have accumulated (especially the greedy bears who see this as the chance for capitulation) then a short sharp dump to capture all sub 40k buy orders before a sustained uptrend for a few weeks. The VWAPs are saying a lot right now.
i tend more for a long,anyway stop is close, risk is justified,let's see what happens