Bullish Pennant or an Ascending Triangle for Bitcoin?
It appears as though the consolidation at ATH's is forming a Bullish Pennant, or, potentially an Ascending Triangle.
I am leaning towards an Ascending Triangle because the horizontal blue resistance has rejected BTC numerous times during this consolidation period, but the price keeps testing that resistance, and the more a trend-line is tested the more likely the price is going to break in that direction, whether that's to the upside or downside, it works both ways from my experience!
We could be seeing a rather large bear flag after a blow-off top, the RSI is trading in a multi-month descending triangle displaying lower high after lower high, meanwhile, the price has increased with several deviations on the RSI regarding lower highs.
KST is showing a bullish cross where I have the blue finger, you will need to zoom in for better visualization.
I am leaning towards an Ascending Triangle because the horizontal blue resistance has rejected BTC numerous times during this consolidation period, but the price keeps testing that resistance, and the more a trend-line is tested the more likely the price is going to break in that direction, whether that's to the upside or downside, it works both ways from my experience!
We could be seeing a rather large bear flag after a blow-off top, the RSI is trading in a multi-month descending triangle displaying lower high after lower high, meanwhile, the price has increased with several deviations on the RSI regarding lower highs.
KST is showing a bullish cross where I have the blue finger, you will need to zoom in for better visualization.
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