btc already forming two pattern : first one is descending triangle , second is falling wedge
if we want to trade based on descending triangle which is already break below the horizontal support and now trying to retest it as support : so the technical target should be around the fib golden ration at 1.618 around 25k .
if trade based on falling wedge pattern which is not break yet , the technical target is top of the wedge .
Finally, we are currently in a downturn in all timeframe so its makes a lot of sense for the first scenario to run right now, the only problem is volume , we need to see more volume to confirm this breakdown .
I hope you find it useful and also don't forget to like my idea and also follow me for more update.
if we want to trade based on descending triangle which is already break below the horizontal support and now trying to retest it as support : so the technical target should be around the fib golden ration at 1.618 around 25k .
if trade based on falling wedge pattern which is not break yet , the technical target is top of the wedge .
Finally, we are currently in a downturn in all timeframe so its makes a lot of sense for the first scenario to run right now, the only problem is volume , we need to see more volume to confirm this breakdown .
I hope you find it useful and also don't forget to like my idea and also follow me for more update.