Bitcoin Bearish Triangle Formation

On the 1H chart, a bearish triangle is forming on the BTC /USDT chart. Looking at the fact that Bitcoin has failed to breach the $20k wall two times now, it might be time for a healthy short term correction.

Support 1 would be my best guess where the price could reverse in case of some downward movement in the coming days. If Bitcoin might end up in a free-fall, Support 2 would be a great area to opt-in for a long position.

There’s a lot of volatility in the crypto market, do your own DD and trade safe.