/biz/ - Business & Finance

>>56893205

>>56844275
>basic chart patterns (like Rising Wedges)
<--- The very basics, the most fundamental stuff of charting.

>>56840707
No pattern in that image.

If you've checked the chart, you know.

>>56708222
Checked. Good that you brought that up. It's very important to keep an eye on that. Would be pretty bullish if it goes above that rising wedge. In the best-case bullish scenario we could then have a situation where the 1W stays topped for some time while BTC pumps. However fakeouts above such wedges do occur. If you see the price soon fall sharply within that rising wedge then that's of course a bearish signal and you know it's going down a few thousand at least, likely testing 30k and possibly dipping into 29k. If the price goes below the wedge and doesn't promptly get back into it, then the situation would be more bearish than it is now. Keep in mind those rising wedges are inherently bearish after all and nearly always break downwards. At roughly 27k however the price would hit the bottom of Bitcoin's log curve, where the whales so far have always bought in (hence always causing the price to not fall lower – with the sole exception being at 15.5k where it was ~1000 below, which mirrored how they didn't let the price rise to the very top of the curve during the latest ATH but instead sold off before the price got there). So if the price goes there, to the bottom of the curve, then we should see a hard bounce followed by a big pump. If that doesn't occur though, and the price falls several thousand below the log curve (to 22k for instance) then nobody can tell where it would stop dumping; it would be an extraordinarily bearish situation.

>>56657885
Those who haven't forgotten the basics know how this is going to turn out.
>bearish only

>>54673271
The rising wedge broke down. What a surprise! Every time there's a major rising wedge like the one BTCUSD just had the baggies cope by trying to pretend it's something else than a rising wedge. They did that this time too. Didn't work out for them! How shocking!

>>54593578
Rising wedge -- Bearish only.

>>54586812
dessu dessu

>>53309049
That's not a pennant. It's not a pattern at all, bullish or bearish.