BTC confirms descending triangle pattern

2021년 7월 31일

Yesterday's chart share took a very long macro look. Zooming in we see confirmation of the same predicted price action on intermediate time frame within a descending triangle. The weekly and yesterday's pump, although giving us 9 straight up days, changed nothing to the technical outlook. The price perfectly kissed the upper trendline of the descending triangle and is now retreating back down, the conclusion of an incredible weekly pump that took BTC price from strong support to strong resistance in only a week, without invalidating pattern. I anticipate, as with yesterdays macro chart, this pattern continues until the end of the year when we see a reversal and can then set a path to ATH. A close and successful retest above triangle's downtrend line would invalidate this time frame. FYI, I am a NOOB, so none of this is to be considered financial advice, I am just documenting my observations to learn from mistakes. Challenges to these observations are more than welcome.