Another Descending triangle

in btc •  16 days ago 

We have another descending triangle in bitcoin.

triangle.JPG

We have seen this bearish pattern often lately.

I am hesitant to trade it though. Price action lets me think right now is a good time to go short, before a breakdown to the downside.

However we have much bullish divergence.

divergence.JPG

So we have a bearish price pattern and bullish signals from RSI, MACD and OBV.

Most interesting right now for me is that alts are leading with more strength than bitcoin. That overall is another indicator that is bullish.

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I dare not short cryptocurrencies. I just HODL. Saves a ton of headache starting from making doing your taxes really simple.

I'm with you! Exactly the way I approach crypto...

Yeah...