#Bitcoin was clearly rejected from the lower band of the Gaussian channel, coinciding with the 50 EMA, a couple of days ago. Despite forming lower highs and lower lows, we've developed a descending wedge formation, which is typically a bullish pattern.

There's no reason to turn bearish yet as long as we're holding above the 0.618 Fib level ($70K-$72K). Considering there's no other major support below, it's very likely we retest this area. A bullish continuation will only be confirmed if we break to the upside from this wedge.

However, if we lose the $70K zone, then we can say it's over. #Crypto #Ethereum #Altcoins