BTC/USD 4H Chart: Triangle pattern

Source: Dukascopy Bank SA

Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3) Neutral Neutral Buy
Alligator (13; 8; 5) Sell Sell Sell
SAR (0.02; 0.2) Buy Sell Sell
Aggregate

The BTC/USD pair is currently trading in a descending triangle pattern. The pair tested the upper boundary of the triangle-like formation pattern at 3500.0 during yesterday's trading session.

Given that the bitcoin cryptocurrency is trading in a descending triangle pattern, and the three SMAs is above the price level, it is likely that the pair will continue moving south until it reaches a support level at the 3300.9 area.

However, a support cluster formed by the lower boundary of the triangle pattern and the monthly S2 at 3370.5 could provide support for the pair within the coming sessions.

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