Very bearish pattern that's been slowly cementing itself on BTC the past few weeks.
The kind of pattern you don't want to ignore in a bearish downtrend.
I have a rough measured move down of 20k. My measurements of the actual pattern are rough as my upper trend line is taken from a larger descending channel, so what I'm charting here may not be a traditional descending triangle.
Either way, we break this pattern, we come down! And its reasonable to assume that initial price action in the 20's will likely be volatile and full of FUD! Could see extreme dumps, could see us fall through 25k like it doesn't exist.
Not saying anything will happen here, just stating what probability leans towards.
The kind of pattern you don't want to ignore in a bearish downtrend.
I have a rough measured move down of 20k. My measurements of the actual pattern are rough as my upper trend line is taken from a larger descending channel, so what I'm charting here may not be a traditional descending triangle.
Either way, we break this pattern, we come down! And its reasonable to assume that initial price action in the 20's will likely be volatile and full of FUD! Could see extreme dumps, could see us fall through 25k like it doesn't exist.
Not saying anything will happen here, just stating what probability leans towards.
