Bitcoin downwards outbreak early next week

Bitcoin is trading within a technically confirmed symmetrical triangle. These formations are typically biased to continue in the direction of the trend, as in downwards. This is further supported by the incredibly weak overall technicals, the weak, weak bearish RSI channel in particular, in which the RSI barely even manages to retrace to the green RSI 50 line whilst the price momentarily recovers. This is equivalent to barely being able to stick your lips above the water surface for haphazard catches of breath whilst in the middle of sinking.

The statistically expected outbreak of the triangle is on Tuesday, of course, plus minus a day or two to still qualify within the first standard deviation.

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