Decending Triangle of Doom - The Bubble Popper
Simple chart analysis here, nothing fancy.
Weve formed a mother of a decending triangle since the drop from the 16,000's which.. if broken.. could spell complete disaster for Bitcoin
First support : 8250
Second Support: 6100
These are scary times indeed!
Weve formed a mother of a decending triangle since the drop from the 16,000's which.. if broken.. could spell complete disaster for Bitcoin
First support : 8250
Second Support: 6100
These are scary times indeed!
Note
Triangle has broken - watching hereI should have also noted that the Daily 200MA is @ ~7800
This should be considered the 2nd support, with 6100 being the third
Historically, the 200MA has been VERY strong, but this market is tricky!
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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.