So Currently Bitcoin is in descending wedge pattern. We have seen multiple triangles (marked yellow) forming in this wedge, every one leading to breakdown. However, I don't think we will see this pattern again because the wedge is running out of space and soon btc will have to decide which way to go. Bear possibility is if we snap the wedge below 3400 it could lead to a fast washout to previous low around ~3200 and later on maybe even further. If btc decides to go up we could see it up to 4k. Volume is low, the action is low which should lead to big move soon. I will be watching this area closely and will enter the position either long or short once I see the confirmation.
Trade closed: target reached