The situation has become quite strange. Bitcoin is forming deceptive patterns, and altcoins continue their downward trend. Currently, Bitcoin is positioned within two triangles—one symmetrical and the other descending. Now that Bitcoin has reached the top of the triangle and appears ready to break upward, it might actually be hiding yet another trap within the price action.
This market has shown disregard for technical patterns, and every time the price approaches historically significant levels, it reveals its true intentions and disappoints us. This cycle tends to repeat.
In my opinion, we’re likely to see one more drop in Bitcoin’s price. After that, instead of continuing the expected downtrend from the pattern, the price could break the descending formation and experience a strong upward move.
Stay Awesome , CobraVanguard.
This market has shown disregard for technical patterns, and every time the price approaches historically significant levels, it reveals its true intentions and disappoints us. This cycle tends to repeat.
In my opinion, we’re likely to see one more drop in Bitcoin’s price. After that, instead of continuing the expected downtrend from the pattern, the price could break the descending formation and experience a strong upward move.
Stay Awesome , CobraVanguard.
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📥┃ Social Media links: linktr.ee/CobraVanguard
📥┃Advert/Partnership: t.me/Cobravanguardsupport
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📥┃Telegram: t.me/CobraVanguard
📥┃ Social Media links: linktr.ee/CobraVanguard
📥┃Advert/Partnership: t.me/Cobravanguardsupport
📥┃ Social Media links: linktr.ee/CobraVanguard
📥┃Advert/Partnership: t.me/Cobravanguardsupport
Related publications
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.