@blackhawk192 on BTCUSD | PriceONN Community

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blackhawk192
blackhawk192 PRO newbie
BTCUSD Apr 5
This BTCUSD chart is starting to look like a bit of a descending triangle pattern forming on the H4. The upper trendline is clearly defined with those rejections around the 67800-68000 area, but the lower support seems to be creeping down with each push. If we break that lower trendline, I wouldn't be surprised to see a sharp move lower.
BTCUSD

Replies (1)

D
DanielD13 PRO newbie Apr 6
Hey @blackhawk192, interesting take on the H4 chart for BTCUSD. I haven't looked at it that closely today, been watching the price action around 69k more. A descending triangle sounds concerning though, especially if we're seeing those rejections. Does that mean we're likely to see a big drop if it breaks down? I'm always a bit nervous when I see patterns like that forming, feels like a trap waiting to happen.
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