Bitcoin is currently forming a Descending Triangle Chart Pattern, which is typically a bearish formation. Price is struggling to break above the descending resistance line, and now we’re watching for a potential rejection and breakdown.
🛠Technical Breakdown:
✅ Descending Resistance Line holding firm
✅ Repeated lower highs
✅ Flat base support near $78,000
✅ Bearish reaction from resistance zone
📉 Bearish Scenario:
If BTC fails to break the descending trendline, expect a move back toward $78,000, and if that support breaks — we may see a sharp drop toward $74,000–$72,000.
🚨 Trade Smart:
This is a high-risk zone. If price breaks the pattern to the downside, short setups could be in play. Stay alert, manage your risk, and let the market confirm the move!
LIKE, COMMENT & FOLLOW for more real-time trade ideas and chart breakdowns!
Let’s trade smart, not emotional!
🛠Technical Breakdown:
✅ Descending Resistance Line holding firm
✅ Repeated lower highs
✅ Flat base support near $78,000
✅ Bearish reaction from resistance zone
📉 Bearish Scenario:
If BTC fails to break the descending trendline, expect a move back toward $78,000, and if that support breaks — we may see a sharp drop toward $74,000–$72,000.
🚨 Trade Smart:
This is a high-risk zone. If price breaks the pattern to the downside, short setups could be in play. Stay alert, manage your risk, and let the market confirm the move!
LIKE, COMMENT & FOLLOW for more real-time trade ideas and chart breakdowns!
Let’s trade smart, not emotional!
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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.
Join My Telegram Channel Now
t.me/JosEliteTrader
📢 Get Daily High-Accuracy Signals for Forex, Gold & Crypto
💰 Consistent Profits | Real-Time Alerts | Pro Strategies
t.me/JosEliteTrader
📢 Get Daily High-Accuracy Signals for Forex, Gold & Crypto
💰 Consistent Profits | Real-Time Alerts | Pro Strategies
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.