Bitcoin & GBTC Bearish Descending Triangle
I have been posting on my site for weeks now that both Bitcoin & GBTC had formed a Bearish Descending Triangle or Wedge from which I was expecting a breakdown into their next Intermediate Cycle Low (ICL).
I have been posting on my site for weeks now that both Bitcoin & GBTC had formed a Bearish Descending Triangle or Wedge from which I was expecting a breakdown into their next Intermediate Cycle Low (ICL).
You Go Surf City.
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Thanks Fully. Many had viewed the chart pattern as a Bull Flag but based on my Cycle Time & Price model, the Descending Triangle pattern was the correct interpretation.
Great Analysis!
If Bitcoin is indeed still in a bull market we should not go much lower. But, if we do it should be relatively short lived.
Sentiment is VERY negative