BTC/USDT UPDATE! ANOTHER BEARISH PATTERN FORMING!!
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Welcome to this BTC update. I'm keeping it very simple and short here.
BTC is forming a descending triangle in the daily time frame which is generally a bearish pattern. Currently, it is trading above $20k and holding the $19.8k support very well so far. We can expect some short-term bounce from here up to the $21.5k-$22k level and after reaching there another rejection is highly possible.
The important support level of BTC is the $18k mark, any daily close below the $18k level will confirm the breakdown of this descending triangle. After the breakdown, we might see a $12k-$13k level.
Invalidation:- Any daily close above the $22.5k level
What do you think about this?
Do you also think that we can see a dump up to the $12k-$13k level in upcoming days or do you think that this is the bottom?
Share your views in the comment section.
If you like this idea then do support it with like and follow.
Thank You!
Welcome to this BTC update. I'm keeping it very simple and short here.
BTC is forming a descending triangle in the daily time frame which is generally a bearish pattern. Currently, it is trading above $20k and holding the $19.8k support very well so far. We can expect some short-term bounce from here up to the $21.5k-$22k level and after reaching there another rejection is highly possible.
The important support level of BTC is the $18k mark, any daily close below the $18k level will confirm the breakdown of this descending triangle. After the breakdown, we might see a $12k-$13k level.
Invalidation:- Any daily close above the $22.5k level
What do you think about this?
Do you also think that we can see a dump up to the $12k-$13k level in upcoming days or do you think that this is the bottom?
Share your views in the comment section.
If you like this idea then do support it with like and follow.
Thank You!
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