Bitcoin: Still Inside The Triangle

Today you can review the technical analysis idea on a 1M linear scale chart for Bitcoin (BTCUSD).

The Bitcoin price is still in a a descending wedge pattern since the all time high. Many analysts are saying it broke the wedge upwards but from review of the chart the price is still inside with a strong chance of still breaking down forming a bear flag pattern with the break down around $18.9K. If the price breaks below that range, expect the bear flag target of $4K. If the price breaks upwards out of the wedge, there may be a good chance we may see $25K price which is the top part of the parallel channel (shown in blue on the chart). Also noted in the chart is the RSI, Stoch RSI and MACD. A move is definitely coming as we are near the end of the month.

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Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #millionaireeconomics