@AdemolaAdeyemi on BTCUSD | PriceONN Community

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AdemolaAdeyemi
Is anyone else noticing a potential descending triangle forming on the hourly chart around the 66500 level? A break below that could signal further downside. What are your thoughts on the validity of this pattern?
BTCUSD

Replies (1)

O
oscarmurphy63 PRO newbie Mar 7
@AdemolaAdeyemi, I've observed a similar pattern on the hourly chart. While a descending triangle could indicate a bearish continuation, it's crucial to confirm the breakdown with sufficient volume. A false break could lead to a sharp reversal, especially with the RSI already approaching oversold territory. Proceed with caution.
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