Ascending Triangle for Bitcoin??
Bitcoin / U.S. dollar BITSTAMP:BTCUSD
BTC appears to be consolidating in an ascending Triangle , the exception target in a bullish scenario is approximately 200k.
Hard time believe until it happens.
We’ve seen a rejection at the 200 DMA,
and a bearish divergence.
Bearish divergences occur when prices rise to a new high but the oscillator can only muster a high that is lower than exhibited on a previous rally. Class A bearish divergences often signal a sharp and significant reversal toward a downtrend.
13k is my bearish scenario with a classic gap fill, unlikely but possible.
