BTCUSD Descending Channel (Falling Wedge Invalid) 01/07/2019

1 thg 7, 2019

Despite the evident falling wedge on the chart, the volume invalidates the pattern as it shows that volume is sustained or even increased at the end of the pattern which in my experience typically indicates strength in the current momentum. I shorted on the test of the upper trendline and expect the lower trendline of the channel to be tested again.

Falling wedge
- Bullish Divergence
- Bias to upper trendline
X-Invalided by inappropriate volume