BTC descending triangle on 15min

6 Feb 2022

Looking into the formations and movement at the top of the range for BTC there is a definite horizontal bottom formed and a descending trend line moving lower. Still within the trading range set by the last move up so although this is beginning to compress there's no clear direction yet. Descending triangle patterns tend to break down though and the low volume currently would indicate weakness in the market. But hey its a Sunday so maybe everyone is out.