Bitcoin in descending triangle going down now?
Bitcoin is forming a descending triangle, which could indicate reversal of the uptrend for a temporary drop. This could be forming a right shoulder of reverse head and shoulders pattern. The previous support level at 6200 - 6300 doesn't have to be necessarily held, it could drop as low as the left shoulder did. What do you guys think?
PS: note that both patters still need to be confirmed. I am definitely short now, my buy stop loss at 6732 (maybe too conservative, but BTC volatility is high :-))
PS: note that both patters still need to be confirmed. I am definitely short now, my buy stop loss at 6732 (maybe too conservative, but BTC volatility is high :-))
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