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Today's market correction has wiped out more than $1.1 trillion from the U.S. stock market

#BCC

BTC, depending on the interpretation, could be in a descending wedge or re-entering the ascending triangle. However, a possible head and shoulders (H&S) pattern is forming on the 12-hour chart. If Bitcoin loses the 63 region, it could indicate a potential drop and confirmation of the descending wedge pattern.

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⚡ #1000PEPE/USDT

📥 Short

💹 Buy: 0.01187 - 0.01245

🧿 Target: 0.01176 - 0.01164 - 0.01152 - 0.01123 - 0.01089 - 0.01049

🧨 StopLoss: 0.01295

🔘 Leverage: 20x

#BTC/USDT ANALYSIS

Bitcoin is facing rejection from the resistance trendline of the descending triangle. It is currently trading above the horizontal demand zone of the triangle.

The Ichimoku Cloud indicates bearish momentum, while the 200-day moving average provides support below the triangle.

We need to wait for a confirmed breakout or breakdown to determine Bitcoin's next move.

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