The price goes into descending channel, and the target of the broken triangle is pointing to a critical area, mixed signals.
Now there are more than one scenario:
1- The BTC rebounded from the new short trend in blue and the 61% Fibonacci (Monthly). (Weak Potential)
2- The BTC rebounded from the old trend from 15/9 and achieved the target of the broken triangle. (Medium Potential)
3- The BTC rebounded from the oldest trend from 16/7 and test the 50 MA on Weekly and the Center line of the descending channel. (Strong Potential)
Now there are more than one scenario:
1- The BTC rebounded from the new short trend in blue and the 61% Fibonacci (Monthly). (Weak Potential)
2- The BTC rebounded from the old trend from 15/9 and achieved the target of the broken triangle. (Medium Potential)
3- The BTC rebounded from the oldest trend from 16/7 and test the 50 MA on Weekly and the Center line of the descending channel. (Strong Potential)
Comment:
The first scenario failed quickly.
So, the third scenario is the best option.
Trade active:
The target of the triangle reached, Scenario 2 Active.