On lower time frames, Bitcoin is forming a symmetric triangle. The next move will be decided by the break of this triangle. The support of the pattern is $41,500 and resistance is in the $42,800 - $43,000 range. #vvipcrypto
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Bitcoin has broken the symmetrical triangle in a downward direction. We might witness a move towards the support area now.
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Bitcoin is currently trading within a symmetric triangle pattern. If the triangle breaks down, the price may fall to the $37,500-$38,500 support area. Conversely, if it breaks out, the price may head towards $45,000 resistance level.
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Bitcoin is currently holding a crucial support level and attempting to regain momentum. Meanwhile, altcoins experienced a downturn but have now started climbing once again. It's important to monitor whether Bitcoin stays stable above the $40,000 mark, as this will determine whether the upward trend in altcoins will continue. It's recommended to keep a close eye on any potential breakdown below $40,000, as it could trigger a chain of stop loss events. Additionally, it's advisable to use tight stop loss in all trades.
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