B.T.C. Bleed Till Calm
Looks like a continuation pattern is forming for btc. Since the initial move up came in an ABC form with RSI not even going above 70 we can assume we have not changed trend and the triangle will most likely break to the downside. The volume is also slowly decreasing indicating we are clearly consolidating. The rising channel is about to break so expect a touch on the bottom resistance and a further move to the downside.
A break of the upper resistance wouldn't mean too much since that will most likely only go up to make a bear flag.
BTC will keep bleeding until the newcomers have been shaken out and the market has calmed down.
A break of the upper resistance wouldn't mean too much since that will most likely only go up to make a bear flag.
BTC will keep bleeding until the newcomers have been shaken out and the market has calmed down.
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