BitcoinUpdated Descending triangle
Looks like we had a decent bounce that appeared to be a fake, previously we broke down from a symmetrical triangle, it looks like this is extended to an descending triangle, if we get a daily close or 4h close below 7.9k this could drop towards the 0.618 fib around 7200.
Also a decent timing as we will have a new weekly tonight, I think we will see a break down, and bounce back up above the weekly MA
Breaking down could happen soon!
Also if we break the blue descending line. We could see a Bart back up..
As the market is extremely fearful and oversold this can still happen.. wait for confirmations!!
Also a decent timing as we will have a new weekly tonight, I think we will see a break down, and bounce back up above the weekly MA
Breaking down could happen soon!
Also if we break the blue descending line. We could see a Bart back up..
As the market is extremely fearful and oversold this can still happen.. wait for confirmations!!
Note
Lines where a bid off but we tapped descending resistance opened a short here with tight stop loss
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