Opportunity Ahead

Launch Chart
KUNAL KAMBLE
BTCUSD
·
Oct 14 2023
snapshot
The pair on a daily time frame has established a Rectangle Pattern, but a deficit is evident within this pattern, hinting at a potential downside breakout. Notably, prices are currently trading below both the Fast EMA 18 and the Slow EMA 45, signifying a bearish trend. Furthermore, the Fast EMA is in a descending trajectory, reinforcing the notion of a downtrend. This bearish sentiment is additionally supported by the momentum indicator MACD, as the MACD line has crossed the signal line from above to below, further underscoring the negative trend.