We see a triangle, which is a continuation pattern.
--> expectation: upside breakout
However, we could also see a , which is a reversal pattern
--> expecation: downside breakout
divergence between price and (red lines)
We notice divergence between the price and the RSI: price action is not confirmed by momentum (indicated by the )
In general, this would mean a correction
So signals are mixed... time will tell
PS (personal opinion)
Personally, I would never short bitcoin , or crypto in general, as to my opinion the crypto-market is in a bull market: there is an upside bias on the long term so why would I take a short position.
I don't want to say that I wouldn't take a short position on a 15-min chart, as the upside bias doesn't apply to that timeframe.
But on a 4 hour, daily and I wouldn't short
sideways price action is still possible
I understand your point
As you may know, a movement sideways is a continuation pattern.
So we may not see a breakout out of the wedge or triangle, but a breakout out of the sideways-trading range to the upside