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Bitcoin (BTC) price is trading inside a descending wedge and could complete its correction after one final decrease.
Ethereum (ETH) price is still holding above the $1,260 horizontal support area. It is possible that the correction is complete.
The bearish pattern for XRP price alongside its bearish divergence suggests that short-term downside is expected.
BTC price bound for another downswing
BTC price has been decreasing inside a descending wedge since reaching a high of $25,211 on Aug. 15. The downward movement has led to a low of $18,125 on Sept. 21. This was just slightly above the yearly low of $17,622, which was reached on June 18.
The descending wedge is considered a bullish pattern, meaning that an eventual breakout from it is expected.
The six-hour RSI is bearish, since it has broken down from its ascending support line (green line) and has decreased below 50.
As a result, a downward movement towards the support line of the wedge seems likely for Bitcoin price. This would also ca
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