BTC Ascending Triangle in a Bearish Trend
This is what I am currently seeing.
A break of the triangle downwards, I have targets around 4500-5000.
A break upwards and moves above 7.5k-8k are likely.
The declining volume also matches this consolidation range, to confirm a breakout use a spike in volume out of the trendline as an indication.
The orange trendline is one that has been played off of quite a lot for the past weeks:
This may act again as resistance at current price levels. A break above it will likely use it as support.
A break of the triangle downwards, I have targets around 4500-5000.
A break upwards and moves above 7.5k-8k are likely.
The declining volume also matches this consolidation range, to confirm a breakout use a spike in volume out of the trendline as an indication.
The orange trendline is one that has been played off of quite a lot for the past weeks:
This may act again as resistance at current price levels. A break above it will likely use it as support.
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