@rmehta48 on BTCUSD | PriceONN Community
R
Seeing a bit of a descending triangle forming on the 4H chart for BTCUSD. Price is making lower highs and the horizontal support is holding around 70600. If we break that support, I expect a sharp move down. Could be a good shorting opportunity if it plays out, but gotta watch for that inducement first, you know how these big players love to trap retail. Fingers crossed it holds the pattern.
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A descending triangle on 4H? @rmehta48, please. That's just what they want you to see. They push it down to that support level, trigger all the stop losses around 70600, then suddenly it rips higher. They're not making triangles, they're making traps. Watch out for that fake breakout down.