Currently, BTC has broken down from an ascending triangle pa | THE DOCTOR CRYPTOHUB pe Binance Square

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THE DOCTOR CRYPTOHUB

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Bearish

În prezent, BTC s-a defalcat dintr-un model triunghi ascendent. Acum, trebuie să așteptăm o defalcare reușită 👀📉

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BTC/USDT has changed its trend in the lower timeframe, and hopefully, it will recover to complete its IDM zone. However, there is quite a bit of liquidity above the IDM zone, so it wouldn't be surprising if a wick is created above this zone to hunt that liquidity.

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The market is about to hit its trade line resistance for the 6th time. Will the market be able to break out of this trade line resistance this time? It looks confusing. As usual, the market is again pumping strongly from its trade line support with more volume. Since the market has been trading within this range for a long time, a lot of liquidity has built up above the trade line resistance, which the market should hunt. I expect the market to break out of its trade line resistance this time, and we might see the market move towards 73k. However, I believe the market will first face rejection from its trade line resistance, which is around the 67k zone, and will complete the lower order blocks before moving upwards.

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BTC/USDT has already broken the supply zone. Currently, it is trading around 64k. Hopefully, the market will quickly complete our FVG zone.

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After the breakdown of the ascending triangle pattern for BTC/USDT, it fell about 1.5%. However, instead of continuing down, it showed a strong recovery from around the 62k price range. But there's a FVG zone remaining around 61k zone

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BTC has created a wick below the LQD zone mentioned in the chart, and it is recovering from there as predicted in the previous market update. To reach the minor supply zone, the market needs to break out above the $61,400 price range first. The market is showing some hesitation in making this recovery towards the minor supply zone, and I will provide further updates soon.

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