Current Bitcoin (
BTC
) price action suggests a descending channel formation, with notable support around the $60k mark. Analysis indicates the potential formation of a descending triangle pattern, where the lower boundary aligns with the $60k support level. By projecting the triangle's peak downward, strong support zones emerge in the range of
49K
-$52k.
Additionally, the weekly Relative Strength Index (RSI) is indicating a downward trend, signaling a potential correction. Given these technical indicators, it's prudent to anticipate a corrective move in Bitcoin's price.
BTCUSDT
BTCUSD
BTC
) price action suggests a descending channel formation, with notable support around the $60k mark. Analysis indicates the potential formation of a descending triangle pattern, where the lower boundary aligns with the $60k support level. By projecting the triangle's peak downward, strong support zones emerge in the range of
49K
-$52k. Additionally, the weekly Relative Strength Index (RSI) is indicating a downward trend, signaling a potential correction. Given these technical indicators, it's prudent to anticipate a corrective move in Bitcoin's price.
BTCUSDT
BTCUSD