Short

BTC/USDT Breakdown from 10 Month Triangle on 1-Day Chart

Since Bitcoin's all time high in November 2021, BTC has been trading in a large descending triangle (which is of course a bearish pattern). The previous all time highs in December 2017 and December 2020 have provided consistent downside support (although there have been a few quick breakdowns below the this 20k level between June and September 2022). Now this 10 month triangle on the 1-day chart has reached its apex and broken to the downside (despite a quick fake-out on September 13, 2022). More downside is expected to retest lower levels.

wedgelence

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