brandoncaddowyoung

Is BTC about to drop further?

Short
BINANCEUS:BTCUSDT   Bitcoin / TetherUS
BTC looks to be in a symmetrical triangle which is usually a trend continuation pattern. There is a chance we break out of it on the upside, but we more than likely will break down. If we do go down, things will get interesting because we would then be below the 0.618 fib, which is not a good sign. Because of this fact, a part of me thinks we might find support here and break to the upside. Time will tell.
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.