Hi,
Another chart pattern, another triangle but this time it is known as a bearish chart pattern called "Descending Triangle".
As I have told you that we have still a bearish pressure and I have warned you to not buy it for the mid-, long-term because the price of BTC has to push above some sort of price levels to confirm bullish moves.
Bearish pressure and Descending Triangle (DT).
To be said, the DT is a bearish pattern but the breakout can still occur on both sides, just more likely is a break below.
During this year, we haven't seen any 4-hour candle close below $30.750. At the moment, the mentioned prize level is the key, if we see a candle close below 30,7k or even better, a candle close below 30,7k and below 30k then we are heading down. At least chances are in our favor if we can see a 4h candle close below the prementioned level.
Wait for a retest and you will get a better entry for shorting BTC price. Be careful if the candle close is too deep, it can happen because actually, I think we cannot see a retest, after that close the selling "panic" can be pretty huge. The target would be 25k to 20k.
If it was helpful, do not forget o push the "LIKE" button! Ty
Regards,
Vaido
Another chart pattern, another triangle but this time it is known as a bearish chart pattern called "Descending Triangle".
As I have told you that we have still a bearish pressure and I have warned you to not buy it for the mid-, long-term because the price of BTC has to push above some sort of price levels to confirm bullish moves.
Bearish pressure and Descending Triangle (DT).
To be said, the DT is a bearish pattern but the breakout can still occur on both sides, just more likely is a break below.
During this year, we haven't seen any 4-hour candle close below $30.750. At the moment, the mentioned prize level is the key, if we see a candle close below 30,7k or even better, a candle close below 30,7k and below 30k then we are heading down. At least chances are in our favor if we can see a 4h candle close below the prementioned level.
Wait for a retest and you will get a better entry for shorting BTC price. Be careful if the candle close is too deep, it can happen because actually, I think we cannot see a retest, after that close the selling "panic" can be pretty huge. The target would be 25k to 20k.
If it was helpful, do not forget o push the "LIKE" button! Ty
Regards,
Vaido