Welcome Back Apostles!
It is always important to keep a bullish and bearish chart so you have a plan for either outcomes.
Taking a look at the daily chart for BTC we can see a possible Descending Triangle forming.
A descending triangle is marked with a horizontal bottom and lower highs inside a triangle pattern.
The last couple days have been bloody for BTC which makes me question just how bullish BTC really is right now...
If the bears can break support near $6,500 i expect a sharp drop to $4,800.(30%)
We will need to see how support holds, but its very possible we see another lower low to $3k.
The price action near $6,500 will be very key over the next few days. Be on the watch!
God Bless, JolleyCrypto
It is always important to keep a bullish and bearish chart so you have a plan for either outcomes.
Taking a look at the daily chart for BTC we can see a possible Descending Triangle forming.
A descending triangle is marked with a horizontal bottom and lower highs inside a triangle pattern.
The last couple days have been bloody for BTC which makes me question just how bullish BTC really is right now...
If the bears can break support near $6,500 i expect a sharp drop to $4,800.(30%)
We will need to see how support holds, but its very possible we see another lower low to $3k.
The price action near $6,500 will be very key over the next few days. Be on the watch!
God Bless, JolleyCrypto