BTC Update: Things are getting interesting... š
Bitcoin just broke down from that rising wedge pattern we were watching š
Right now it's trading below the Ichimoku Cloud ā which basically means the cloud is now acting as resistance above us. Not ideal.
Here's what I'm watching:
ā If BTC holds the 200MA ā We could see a bounce and recovery from here
ā If it breaks below the 200MA ā Expect more downside and further correction
This is one of those make-or-break levels. The 200MA has been a strong support historically, so let's see if it holds š¤
Not financial advice, just sharing what the chart's telling me right now.
What do you think? Bounce incoming or more pain ahead? š
