BTC Going Down To 25K

11 Jun 2021

I drew this triangle a few days ago, and so far the trend continues to fit into it. It appears to be a descending triangle, thus we are expecting the price to decrease. By extrapolating the base of the triangle, we are expecting a price decrease to around 26-24K area. This area also matches a previous resistance area back from February 2021. Another indication of the MA 20 currently serving as resistance, and the MA 20 crossing below MA 200 a little more than a week ago. The bounce back from the fall was nothing more than a Fibonacci Retracement bounce back to 38.2%

Given that BTC governs the behaviour of all other coins, it is safe to assume that a global market price decrease is coming.