$BTC keeps getting rejected off $95000 and now is in danger of breaking down from the Bearish Pennant, currently testing its lower trendline.
Bearish Target is around $77000.
But, there is another bearish structure, the Head & Shoulders pattern with a neckline at $92000. Losing this means that $BTC could Target a similar areas as the Pennant's Target, $76000.
4hr chart is also adding to the importance of holding $92000 as that level is also the bottom of a rectangle chart pattern on that timeframe. Target of the rectangle, if broken down, reaches all the way down to $83-84k.
Tough times for Bitcoin to be honest. The USDT FUD is palpable, it needs to end before crypto retains momentum
Bearish Target is around $77000.
But, there is another bearish structure, the Head & Shoulders pattern with a neckline at $92000. Losing this means that $BTC could Target a similar areas as the Pennant's Target, $76000.
4hr chart is also adding to the importance of holding $92000 as that level is also the bottom of a rectangle chart pattern on that timeframe. Target of the rectangle, if broken down, reaches all the way down to $83-84k.
Tough times for Bitcoin to be honest. The USDT FUD is palpable, it needs to end before crypto retains momentum
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BTC
92,627.45
-0.97%