- Rising wedge formed
- Broke below critical trendline again
Market sentiment is mixed and we're getting loads of chop.
Bear : If the wedge validates, breaks down and closes, we could be heading down to next support zone (blue box).
Bull : If we break back above the long term trendline, for more consolidation in the wedge, could build up energy for another alt season, or could subsequently breakdown.
$BTC could also breakout and invalidate the wedge, but right now market's not showing that as most probable. This doesn't mean it won't happen, as anything can happen.
- Broke below critical trendline again
Market sentiment is mixed and we're getting loads of chop.
Bear : If the wedge validates, breaks down and closes, we could be heading down to next support zone (blue box).
Bull : If we break back above the long term trendline, for more consolidation in the wedge, could build up energy for another alt season, or could subsequently breakdown.
$BTC could also breakout and invalidate the wedge, but right now market's not showing that as most probable. This doesn't mean it won't happen, as anything can happen.