Crisp triangle pattern on 15-minute BTC/USD chart now.
Given the escalating rhetoric surrounding the SegWit2x fork and the mounting uncertainty, I would think a break to the downside is more likely. This is just a guess, so please don't take my opinion as some kind of trading advise.
what does that triangle signal? is that a red flag of death?
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It signals that pressure is building up in the market. Many of the biggest rallies and crashes are preceded by such formations.
Here, check out some of my previous posts on these patterns:
https://steemit.com/bitcoin/@techwizardry/another-big-triangle-pattern-on-the-bitcoin-chart-which-way-will-it-break
https://steemit.com/bitcoin/@techwizardry/massive-triangle-pattern-on-btc-usd-holds-as-bitmain-and-bithumb-give-statements-on-bcc-bitcoin-cash
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Interesting post - thanks @techwizardry .
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Well, looks like the the triangle pattern broke up. Let's see if we get a crazy rally that takes us above $4500
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