BTC is working on Triple Bullish Divergence on 4h which is exactly what ushered in reversal during bottom of the dip back in February in a similar falling wedge formation. Right now we had 2nd symmetrical triangle in a row (bear pennant) breakdown, it's currently getting backtested for resistance just like it happened few days ago. After that, final markdown to 45k (our original target of short trade setup posted on April 17 could occur. Look for that tripple bullish divergence when that happens. Already oversold on daily timescale, relief rally to 60k range is right around the corner!
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Backtest of the bear pennant would be around 50k, I believe that's where we are headed today, then rejection, 45k where daily Rising Wedge target, Falling Wedge support and daily support coincide and if we get that triple 4h Bullish Divergence on that low I do believe it will be the time for a retest of 60k range. Watch for that bounce.
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Backtest of the triangle in progress, much quicker than I thought. Makes you think it might break! But until it does this is bery high risk area where reversal to the downside could so easily occur.
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Officially above that bearflag now. Looks like we have a reversal already, we broke out of that falling wedge. Might be wort waiting for 1h candle close confirmation (4h if you are patent or backtest of the brekout if you are very patient). Looks like we could be targeting 60k.