BTCUSDT : Bearish Scenario
Forming a bearish / descending triangle pattern with the tendency to close out the $42000 shadow.
Support area (green) must not be compromised since a breakdown from that point will push the market further down.
Support area (green) must not be compromised since a breakdown from that point will push the market further down.
Note
The flash dump was considered as a false break. Nothing to worry aboutA closing below the support is needed as a breakdown confirmation
Note
Breakdown from support is confirmed! Yet the rejection candle looks suspicious as of the moment. I foresee a chance of forming a double bottom pattern now
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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.