You are seeing here is a falling wedge which is a bullish pattern. I'm bullish on this because BTC is currently mooning. Once traders gains their profits, the money will flow towards alt coins which are currently on a discount and a good time to buy.
Red dotted lines indicates previous supports which is now our resistance levels. Once we break the trend line it will moon. However, if resistance is too strong it will pull back. Another opportunity of resistance retesting will occur.
If bottom trend line will not hold it will look bearish. But somehow, this is is unlikely.
**feel free to comment regarding my analysis. i'm open to corrections, still new to this. :)
Red dotted lines indicates previous supports which is now our resistance levels. Once we break the trend line it will moon. However, if resistance is too strong it will pull back. Another opportunity of resistance retesting will occur.
If bottom trend line will not hold it will look bearish. But somehow, this is is unlikely.
**feel free to comment regarding my analysis. i'm open to corrections, still new to this. :)
Comment:
still correct. once $27 resistance is passed this will moon.