$BTC

🟢#BTC/USDT ANALYSIS 13:17 16/08/2024

🟢Bitcoin recently broke below the horizontal demand zone of a descending triangle pattern, signaling a potential change in market sentiment. It is currently in the process of retesting the lower boundary of the triangle.

🟢The Ichimoku Cloud reinforces this bearish outlook, with indicators showing increased bearish momentum. If the retest of the triangle boundary confirms this bearish trend, we could see a continuation of the decline, potentially leading to a significant drop in price.

🟢Conversely, if Bitcoin fails to stay below this level during the retest, it could enter a consolidation phase within the descending triangle.