Bitcoin – Breakdown from Triangle Pattern!
Want the daily routine? Get the free 15-Minute Swing Trader’s Checklist. Get it free →
After months of consolidation, Bitcoin has broken down from its triangle consolidation price pattern.
The interesting thing is that if you look carefully you will see both a symmetrical triangle (neutral) and a descending triangle (bearish), so overall the odds of it breaking down was higher than the odds of it breaking up.
The next support level is around the $6800-$7000 level, so we might see a small pullback, followed by more bearish movement downwards.
Want the daily routine? Enter your email for the free 15-Minute Swing Trader's Checklist.
Free 5-page PDF, then occasional trading emails. Education only, not financial advice. Unsubscribe anytime. Kit stores your email in the US: see our privacy policy.
Want to learn the full method? The Trading Mastery Program teaches the 4 strategies I have traded since 2011. It suits beginners and experienced traders.
Rather follow the trades as they happen? Daily Trading Signals is our Telegram channel: my trade ideas with entry, stop and exit, and every trade is public.
Questions about this post? Ask in the free Telegram channel →
Educational content only, not personalised financial advice. Trading carries risk, including loss of capital. Past performance is not indicative of future results. Synapse Trading is not licensed or regulated by MAS.
