I've been into BTC for a long time but I've never bothered trying to learn TA but after watching a few YouTubers I've taken an interest. I'm reading some basics and trying to interpret the chart based on past data in order to understand what is going on. In light of that information, you should view this as a journal from a very green... I don't know I wouldn't even call myself a trader. Just a guy who likes BTC and trying out technical analysis as a possible new hobby.
Anyways, it's been an insane past couple of days and I hope everyone is in a good spot with their trades.
My notes/thoughts on this current price action are that we perhaps have seen a descending triangle that proceeded into a falling wedge.
I'm also curious about the possibility of a death cross forming as the 200 Day SMA looks like it might converge with the 50 Day SMA.
Any feedback on these thoughts is welcome since I'm new to this and I'm just studying the chart to try and make heads or tails of it.
Disclaimer: This is not financial advice.
Anyways, it's been an insane past couple of days and I hope everyone is in a good spot with their trades.
My notes/thoughts on this current price action are that we perhaps have seen a descending triangle that proceeded into a falling wedge.
I'm also curious about the possibility of a death cross forming as the 200 Day SMA looks like it might converge with the 50 Day SMA.
Any feedback on these thoughts is welcome since I'm new to this and I'm just studying the chart to try and make heads or tails of it.
Disclaimer: This is not financial advice.