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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