Emergency!!! Next Few Hours Are Make Or Break For Bitcoin | BTC Needs To Hold This Support

moon333(67)

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Hi dear friends, hope you are well and welcome to the new trade setup of Bitcoin ( BTC )

Broke down a triangle:
Bitcoin has broken down a descending triangle, now the next target, as per this triangle is $26500.

Significant support:

Bitcoin is moving below the support of $28600. This is the long-term support, therefore, we need to look at the closing on the weekly time frame. Within the next few hrs if weekly candle will be
closed below $28600, then Bitcoin can test the support of the falling wedge and as per my point of view, in the worst-case scenario, BTC can test the weekly 200 simple moving average.

Conclusion:
On a weekly time frame, if BTC will be closed below $28600 support, then there will be a high probability of testing the falling wedge's support once again. But if the priceline recovers back
above $28.6k then soon we can see a big price reversal at least up to the resistance of the wedge.

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Link for Binance exchange, to trade crypto:

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