BTC may be ready to come out of it's bearish hole.
The chart above depicts how BTC behaves wtihin it's downward wedge. Once rejected at the top, it has consistently dipped to the bottom of the wedge until recently (see yellow ellipses). We have seen a less severe descending trendline establish (see blue ellipses). Now we are seeing what could be the beginnings of a new ascending trendline (2 new bottoms = purple ellipses).
If we can continue to respect the new (possible) ascending trend line and puncture the strong resistance provided by the descending trend line, this would be the beginning of the neutralization which would signal the eventual arrival of a new bull market.
***Any information represented here is my opinion only and not intended to be used for financial gain. None of the information posted here is to be considered financial advice. Information posted here is strictly for entertainment purposes only. Please consult your financial professional before making any kind of investment. Investments can be very risky and any investor should educate themselves before investing by enlisting the help of a licensed financial professional. Past results are not indicative of future results in any construable way.***
The chart above depicts how BTC behaves wtihin it's downward wedge. Once rejected at the top, it has consistently dipped to the bottom of the wedge until recently (see yellow ellipses). We have seen a less severe descending trendline establish (see blue ellipses). Now we are seeing what could be the beginnings of a new ascending trendline (2 new bottoms = purple ellipses).
If we can continue to respect the new (possible) ascending trend line and puncture the strong resistance provided by the descending trend line, this would be the beginning of the neutralization which would signal the eventual arrival of a new bull market.
***Any information represented here is my opinion only and not intended to be used for financial gain. None of the information posted here is to be considered financial advice. Information posted here is strictly for entertainment purposes only. Please consult your financial professional before making any kind of investment. Investments can be very risky and any investor should educate themselves before investing by enlisting the help of a licensed financial professional. Past results are not indicative of future results in any construable way.***