Strong bearish move imminent
On the Daily chart we see BTCUSD is failing to make any new highs and has formed the bearish descending triangle pattern. We have just seen a kumo twist which is now showing the cloud as bearish.
If we see a downward kumo breakout I believe this could be the catalyst to break though the descending triangles base and could see a move down to the $429 level of support.
Price would need to see some significant strength in the next couple of days to avoid the kumo breakout to the downside.
If we see a downward kumo breakout I believe this could be the catalyst to break though the descending triangles base and could see a move down to the $429 level of support.
Price would need to see some significant strength in the next couple of days to avoid the kumo breakout to the downside.
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