Hello,
Today I will look at the BTC/ USDT pair on Binance in the 4h timeframe. The demand zone is sitting around 16K, and the supply zone is around 17K. I can see that the descending triangle is formatted, and I am expecting that the price will go downward from its current position. I am expecting a downtrend, bearish movement, and the price of Bitcoin to go down to at least $16200 in the next few days. Even if we had some small uptrend situations in the past few days, we are still in a bearish cycle. If the opposite happens (a bullish movement), we can expect the price to rise around $18,000, but I doubt it.
Enjoy & have an amazing day!
BF
Today I will look at the BTC/ USDT pair on Binance in the 4h timeframe. The demand zone is sitting around 16K, and the supply zone is around 17K. I can see that the descending triangle is formatted, and I am expecting that the price will go downward from its current position. I am expecting a downtrend, bearish movement, and the price of Bitcoin to go down to at least $16200 in the next few days. Even if we had some small uptrend situations in the past few days, we are still in a bearish cycle. If the opposite happens (a bullish movement), we can expect the price to rise around $18,000, but I doubt it.
Enjoy & have an amazing day!
BF