Larger pattern puts bitcoin in a Descending channel after a big run up towards $14k
As bitcoin is moving through the channel we can see a horizontal support/resistance box around $10,9k - $11,1k. After breaking out of this box a week ago, we touched the upper resistance of the channel and a new pattern started to form within the channel.
As of now it looks like there's a falling wedge forming, which are mostly bullish patterns. Though you never know till they actually breakout up or down.
As shown on the chart, both the Apex of the wedge, the supportbox and the 55 EMA are around the same area.
@Neliscrypto
As bitcoin is moving through the channel we can see a horizontal support/resistance box around $10,9k - $11,1k. After breaking out of this box a week ago, we touched the upper resistance of the channel and a new pattern started to form within the channel.
As of now it looks like there's a falling wedge forming, which are mostly bullish patterns. Though you never know till they actually breakout up or down.
As shown on the chart, both the Apex of the wedge, the supportbox and the 55 EMA are around the same area.
@Neliscrypto