After breaking the red triangle line, many people are too confident that BTCs price will dump further. The herd is bearish and many people are shorting BTC. Betting on a short here is as risky as betting on a long when BTCs price was 20k.
As you can see in the chart, we are still in a descending wedge which is known to be bullish.
As you can see in the chart, we are still in a descending wedge which is known to be bullish.