Looking on the 3D Log-scale of bitcoin, there can be concluded that we are in a descending triangle. This is a bearish pattern that usually forms during a downtrend as a continuation pattern.
The target for this pattern should be somewhere around $4100.
The stoch. RSI is also almost crossing, wich is bearish right now.
There`s still a change for an upwards swing, looking at the RSI. The RSI is in an symetrical triangle wich is either bearisch or bullish. But most of the time it acts as an continuation pattern, which is bearish on the RSI to.
So in my oppinion we will go down, searching for a lower bottom.
The target for this pattern should be somewhere around $4100.
The stoch. RSI is also almost crossing, wich is bearish right now.
There`s still a change for an upwards swing, looking at the RSI. The RSI is in an symetrical triangle wich is either bearisch or bullish. But most of the time it acts as an continuation pattern, which is bearish on the RSI to.
So in my oppinion we will go down, searching for a lower bottom.
