PolarHusk

BTC/USD TA Update (Bearish Pattern?)

Short
BITSTAMP:BTCUSD   Bitcoin
BTC/USD

Bitcoin is looking bearish after failing to break above 9400s, it also failed to hold previous Higher Low at 9280s and has now retested the same support at the 9220s.
This key support area is likely to fail as the EMAs and 50MA on 1hr time-frame is acting as bearish momentum pointing to the downside.
We will be looking at 9000s next key support area if this bearish descending triangle plays out.

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