From my point of view, BTC is in a descending triangle both in terms of price and in terms of the RSI level.
The key prices that do not invalidate the pattern are:
Triangle top: ~ 35,000 $
Triangle bottom: ~ 22,000 $
Current support: ~ 28,000 $
Ema support: ~ 25,000 $
After 9 red weeks, I believe some greens are likely due to low RSI (~ 30), low MACD, 28k support.
However, a further red week could find a bottom around 25k, close to the ema.
No Financial Advice
The key prices that do not invalidate the pattern are:
Triangle top: ~ 35,000 $
Triangle bottom: ~ 22,000 $
Current support: ~ 28,000 $
Ema support: ~ 25,000 $
After 9 red weeks, I believe some greens are likely due to low RSI (~ 30), low MACD, 28k support.
However, a further red week could find a bottom around 25k, close to the ema.
No Financial Advice
