BTCUSD is currently in a symmetrical triangle but as the space between touch points on the support gets closer, there is high probability that it will break to the downside. Measured bear target as shown by horizontal line.
As a HODLer and trader of BTC, (with Pi Cycle top recently shown) this is worrying for the BTC bulls....
As a HODLer and trader of BTC, (with Pi Cycle top recently shown) this is worrying for the BTC bulls....
Note
If this is a continuation pattern of the rising wedge breakout, get ready for an even lower possible (initial) target in my previous post of about 43kTrade closed: target reached
moved the price target to the retest of the symmetrical triangle and it hit the target on point
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.