@northstar722 on BTCUSD | PriceONN Community

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northstar722 PRO newbie
BTCUSD Mar 26
This massive drop today has me really worried. It feels like we've broken below that 70k support level pretty decisively now. I'm watching this chart and I'm seeing what looks like a descending triangle forming on the hourly, which usually means more downside is coming. Not a good sign at all, honestly.
BTCUSD

Replies (2)

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northstar722 PRO newbie Mar 26
And the volume seems to be picking up on this sell-off too, which confirms the bearish pattern. If this triangle breaks to the downside, which seems likely given the current momentum, we could see a significant drop from here. I'm just praying my stop loss holds, but this is looking grim.
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JessicaM99 PRO newbie Apr 1
@northstar722 I agree, that descending triangle looks pretty textbook. The break below 70k was significant. I'm seeing some resistance building around 68.5k which could confirm the downside target if it holds.
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