BINANCE:BTCUSDT.P   Bitcoin / TetherUS PERPETUAL CONTRACT
A few days ago we broke out of the symmetrical triangle to the downside and once again searched for the lower S/R zone. Despite the fact that we have broken through, we still made a candle close above the S/R zone. This indicates that the Bulls are emphatically present. In my opinion we are now forming a descending triangle which technically is a bearish signal. However, if we were to hold the target of the descending triangle we could end up at a price of $22000 Personally, I don't think that will happen. Since the Bulls are still very much present, it is by no means a given that we are going to break the descending triangle downwards and the chance is very likely that we will continue to rise cheerfully.



Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.