Bitcoin is testing a key demand zone after breaking down from a symmetrical triangle, putting the market at a critical turning point. While buyers may attempt to defend this support and trigger a rebound, a failure to hold could open the door to further downside in the near term.
Bearish Triangle Breakdown Sends Bitcoin Toward Key Liquidity Zone
Minga highlighted that the market has experienced a bearish breakout from a symmetrical triangle pattern, and the price is trending toward the 50% wick fill region of the previous weekly candle, an area containing significant untested liquidity and a long limit order that was previously front-ran. While he expects this long position to be filled, the risk on this trade is minimal at 0.25%, effectively serving as a risk-free hedge against his existing short position.
Minga maintains a bullish bias for the remainder of the month, but he emphasizes that this outlook requires technical confirmation, specifically a bounce from the $60
We współpracy z: https://www.newsbtc.com/news/bitcoin/bitcoin-test-key-demand-area/
