With bitcoin and the other alts getting pinched out of their wedges and looking like they may be staging a coup d'bears, it's important to be aware that if Bitcoin bounces off the top of the descending channel line, it could still form a double bottom using the original triangle as support (supported by fibonacci retracement. Many think that it could go any lower, but that is unlikely imo.
Supporting a breakout are the head and shoulders target (red vertical line), the 50/200 EMA converging on the 4 hour chart (they already crossed on the 1 hour chart), and the ascending MACD trendline. If it does breakout, we can still expect a minor correction, just not as deep. Stay tuned!
Healthy trading and profitable investments,
The Freedom to Be
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If you profit from this idea and would like to keep the charts coming, wallets are below:
BTC: 13mG7EsCBB3wK2pQnV4zXqXUXmnVtCbmS6
LTC: LTfKUD4g4zytwbLFsFCJyG6N55xu3mtZYJ
ETH: 0x800fe4a5a75af9034f4982c04bdd4b557dca0f3f
BCC/BCH: 1QmchfEizCkLLweNySkAJmBCJ6zEtfkBB