$BTC /USDT ANALYSIS
Bitcoin is showing some weakness after breaking down from the ascending broadening wedge.
What I’m watching now is the Ichimoku Cloud. It has moved into an important resistance zone, so I don’t think the breakdown is fully confirmed until BTC tries to retest that area.
If price retests the breakdown level and gets rejected again, that could open the door for another leg lower.
Personally, I’d avoid chasing the move here. The retest is more important for me than the initial breakdown.
I’ll be watching BTC’s reaction around the broken structure closely.
$BTC $ETH
#BTC #Bitcoin #CryptoTrading #TechnicalAnalysis #Binance
Bitcoin is showing some weakness after breaking down from the ascending broadening wedge.
What I’m watching now is the Ichimoku Cloud. It has moved into an important resistance zone, so I don’t think the breakdown is fully confirmed until BTC tries to retest that area.
If price retests the breakdown level and gets rejected again, that could open the door for another leg lower.
Personally, I’d avoid chasing the move here. The retest is more important for me than the initial breakdown.
I’ll be watching BTC’s reaction around the broken structure closely.
$BTC $ETH
#BTC #Bitcoin #CryptoTrading #TechnicalAnalysis #Binance
