Bitcoin - Broadening Right-Angled Descending Formation
Considering the pattern that has emerged on the hourly, and how it behaves on downward breakouts, I think another leg down to the 36K range is in the cards.
Broadening Right Angled-Descending Formations typically breakout in the height of the formation.
The height of the formation is around ~3200 USD.
A downward breakout from the lower trendline would bring BTC to approx. 36K
Broadening Right Angled-Descending Formations typically breakout in the height of the formation.
The height of the formation is around ~3200 USD.
A downward breakout from the lower trendline would bring BTC to approx. 36K