We finally broke down the bullish pennant, (the most likely scenario happened) but yesterday we had a false breakout and hit the top of the rising wedge, I am now expecting to hit the bottom of the wedge and continue up after, but anything can happen and the rising wedge could break to the downside too at any time, but I don't think is the time yet.
@maliklegend70, You never know, but is less likely, we could be forming some kind of wedge in the weekly and daily chart, see my idea, if is the descending broadening wedge it could happen but there is a strong support,at near 20K, so i don't think we will come bellow 17k, thanks a lot for commenting.
vareisar66
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@Cryptolover333, Hi, have you considered the possibility for death cross at the daily chart? We're about to get there if we continue to failing to break the resistance.
Cryptolover333
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@vareisar66, yes I have considered that possibility too, but historically we have some pumps in death crosses and some dumps so I am not expecting a big drop yet, it could happen but could not too.
vareisar66
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@Cryptolover333, Thanks for the reply! I am afraid that the enthusiasm that pushed us to 60k is gone and we'll need more time to recover the up trend, until then we'll go sideways, or potentially downwards for few months or more.
Cryptolover333
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@vareisar66, you are welcome, that is true, I agree.
Bearish pattern Probably testing 31k again or at least 34-35
Cryptolover333
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@amusedTortoise43257, Thanks for commenting , it could be but I have a strong feeling that we are going to retest resistance line in daily and weekly charts I have just posted an idea of where we can be heading for now, but if we break the wedge down we could also hit 30 K, anything is possible, lets see.