$BTC More downside loading …



Price is currently again in a compression phase just like before the last leg down.

In environments like the current one triangle patterns like the ones shown below usually signal a continuation rather than a reversal.

A break below the support line and a strong close below could send us back to 62k.

I would be very careful longing here.
BTC-2.22%
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PerpNightshift
· 1h ago
I would rather miss out on this structure than have it become chaotic.
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MoonlightLiquidationLine
· 1h ago
If the support line breaks, the bears celebrate.
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SeaSaltMarketMakingNotes
· 2h ago
Waiting for a volume-confirmed bearish candle to confirm, even if I’m itching to act now, I have to hold back.
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GateUser-744c843b
· 2h ago
Teacher, this drawing is accurate. The last time a similar pattern indeed declined.
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WalletEarlyAccessAlarm
· 2h ago
The probability of triangle continuation is high, a classic textbook example
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MirrorBallReflection
· 2h ago
If 62k really hits, I might consider taking some spot positions.
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GateUser-6857a9c9
· 2h ago
Waiting and observing, not guessing the bottom
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SeaSaltSparklingWater
· 2h ago
The most torturous phase is during compression, holding positions feels like sitting on pins and needles.
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AprDaydream
· 2h ago
This trend reminds me of that wave last year, it’s chilling.
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tvl_down_bad
· 2h ago
Going long now is like catching a flying knife, respect to the warriors.
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