It appears as though BTC is trading in a descending channel or a falling wedge.
On the RSI there's clearly a descending triangle with a series of lower highs.
On the DMI there was recently a bearish cross coinciding with a sharp decrease in the price.
It's likely BTC bounces off the baseline support of the descending channel, look for sell pressure at the downward sloping resistance.
I have drawn two hypothetical scenarios possible in the near term, glta.
On the RSI there's clearly a descending triangle with a series of lower highs.
On the DMI there was recently a bearish cross coinciding with a sharp decrease in the price.
It's likely BTC bounces off the baseline support of the descending channel, look for sell pressure at the downward sloping resistance.
I have drawn two hypothetical scenarios possible in the near term, glta.
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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.