BTC: It was falling wedge not descending triangle

2 พ.ย. 2019

We were wondering which pattern btc was playing as we shared both scenarios for bullish and bearish view on Sep 26,

As follow:
We were expecting 8300-7500 area to be next support if 9k broke down and unfortunately it did.
Bakkt launch date was bad exactly as CME but will bear market follow next..again!

Descending Triangle initial target 5k
Falling Wedge initial target 13k

The question:
Which pattern bitcoin is playing now... ?!
0.618 fib and 2d 200ema are strong to watch for reversal at 7700-7600

As now:
-I see bitcoin following bullish view after strong reverse from 7500 area where 2d 200ema & 0.618 fib were located
-We got falling wedge breakout with nice volume and small pause at the previous support which turned resistance at 10k
-2d RSI check how hidden bull div followed by classic bull div playing well even on higher time frames
-Blue circle Fakeout! outside blue channel will be confirmed if price back within the channel again
-4H showing bullish pennant targeting 12500


Related idea:
BTC: Falling Wedge OR Descending Triangle?