After breaking out of the descending triangle, Bitcoin is now trading above the 200MA, providing strong support at this level. A bounce here could signal upward momentum. đ
However, if the price drops below the 200MA, we might see further downside, with the Ichimoku Cloud acting as the next support just above the pattern. A breakdown below both the 200MA and the Cloud could confirm a bearish trend, while holding these levels would suggest continued bullish strength. đ
XRP is breaking out of a symmetrical triangle pattern, with the Ichimoku Cloud acting as a key resistance barrier above. A strong breakout from both the triangle and the cloud could ignite a significant bullish trend. Keep a close watch on this setup! đđ
Type: Bearish pattern Structure: Parallel, downward-sloping linesUpper Line: Lower highs Lower Line: Lower lows Strategy:Sell/Short near upper line Buy/Cover near lower line Reversal: Watch for breakout above upper line Risks:Use stop-loss to limit potential lossesConfirm with volume/momentum indicators Ideal for identifying downward trends and potential reversal points.