BitcoinShort
BTC MALLAT
Measured Move Target: In a descending triangle, the downside target is often estimated by measuring the height of the triangle (distance between the highest peak within the triangle and the support level) and then subtracting that from the breakdown point. Based on the chart:
The height of the triangle looks to be around 5,000 to 7,000 USD (from roughly 94,000 down to 87,800).
A breakdown would give a target in the range of 80,800 to 82,800 (87,800 - 5,000 or 87,800 - 7,000).
Support Levels: Beyond the measured move, look for previous key support areas where the price has consolidated before. If BTC falls below 82,800:
Next supports could be in the 80,000 and 78,000 zones, where past buying interest might re-emerge.
The height of the triangle looks to be around 5,000 to 7,000 USD (from roughly 94,000 down to 87,800).
A breakdown would give a target in the range of 80,800 to 82,800 (87,800 - 5,000 or 87,800 - 7,000).
Support Levels: Beyond the measured move, look for previous key support areas where the price has consolidated before. If BTC falls below 82,800:
Next supports could be in the 80,000 and 78,000 zones, where past buying interest might re-emerge.
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