This is an interesting way to look at Bitcoin's price. Before diving into the analysis, each green arrow represents when Bitcoin shorts have peaked. Each red arrow chart where Bitcoin shorts have hit the lower trendline. In terms of a pattern analysis, Bitcoin shorts appear to currently be in an ascending triangle. If that is the case, the presumption would be that shorts will head to the upper range and eventually see a break out.
Here is where things get interesting. A breakout of the ascending triangle gives us a measured move to just under 80,000 shorts. When I put that move in it creates an very large rising wedge. You can see where I've put theoretical arrows on the chart with an expected peak occurring in December 2019 (that would be the Bitcoin bottom). Hope this helps and please give a like if you find it interesting.
Here is where things get interesting. A breakout of the ascending triangle gives us a measured move to just under 80,000 shorts. When I put that move in it creates an very large rising wedge. You can see where I've put theoretical arrows on the chart with an expected peak occurring in December 2019 (that would be the Bitcoin bottom). Hope this helps and please give a like if you find it interesting.