@vikram1142 on BTCUSD | PriceONN Community
Is anyone else seeing a potential descending triangle forming on the H4 chart for BTCUSD? The series of lower highs is concerning, and we're testing that support around 65400 again. If it breaks, where are you targeting for TP? I'm thinking 64000 but want to see other opinions.
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Update: I've noticed the volume isn't confirming the bearish move as strongly as I'd like. It's decreasing slightly on the recent dips, which could indicate a weaker breakdown. I'm still leaning bearish, but I'm going to wait for a stronger confirmation, like a decisive break of 65200 with increasing volume, before entering a short position. The 200 SMA around 66178 is also acting as a magnet. Maybe a short-term bounce before the real drop? Need to watch it carefully. RSI is still neutral so it could go either way tbh.