bitcoin chart is forming bilateral symmetrical triangle
Symmetrical triangle can either be bullish or bearish, Symmetrical triangles form when the price converges with a series of lower peaks and higher troughs
but if we look BTC daily and 4hr chart, then overall trend is bearish
So there is more probability that bilateral symmetrical triangle can break down. And once it breaks down, then bears become more aggressive
and price can drop quickly and resume downtrend.
short seller can open short positions if the price breaks down the triangle and wait to retesting trend line
This is my personal view about bitcoin price . Take it as educational purpose.
Symmetrical triangle can either be bullish or bearish, Symmetrical triangles form when the price converges with a series of lower peaks and higher troughs
but if we look BTC daily and 4hr chart, then overall trend is bearish
So there is more probability that bilateral symmetrical triangle can break down. And once it breaks down, then bears become more aggressive
and price can drop quickly and resume downtrend.
short seller can open short positions if the price breaks down the triangle and wait to retesting trend line
This is my personal view about bitcoin price . Take it as educational purpose.