The descending wedge Bitcoin is in since the beginning of the bear market is coming to an end. The resistance and support level touch at the end of November. What we know for sure? The violence with which it will make a decision (up or down) will be will more power the longer it takes. The tension is building up.

#cryptocurrencies #bitcoin

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32 COMMENTS

  1. Manipulators will likely push it down. Force capitulation, soak up the weak hands and then reverse on your ass and push it higher. All the money that sold and lost will scramble to buy higher…and higher…and…

  2. Only real hope here is that a false break (resolving to the upside) of a descending triangle is an even more powerful signal than a legit break down. A genuine break down is heading to 1-3k. A false break would best coincide with some type of global shock. Buckle up.

  3. The hype isn't there anymore. I think this descending wedge is going to turn into a descending channel. The only thing that's going to crack it is the halving in 2 years!

  4. Good video. I think your brain actually told you (in your last video) that the break down was more likely than up. You did say the break down was very likely. Volume just isn't there. EOS is getting much stronger against BTC for some reason in the last week. 6400 btc was pegged to 5.00 EOS, but now 6300 isn't even pushing it below 5.00. Still not bullish on anything. Skilled traders enjoy, everyone else be careful. We're going down.

  5. Little note: a descending wedge is a bullish pattern (70%+ chance of upwards outbreak). Given the fundamentals of cryptocurrencies, the development of the last months and a lot of other factors taken into consideration, it should be a bullish outbreak!

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