@moon333 6 May 2022 more from that month

Extreme Bitcoin Dump | BTC Breaks Down Bullish Biased Pattern https://youtu.be/r4nT8c6lGOA Hi, friends hope you are well and welcome to the new update on Bitcoin.   **Big bullish Cypher move:** In Jan 2022, Bitcoin formed a bullish Cypher pattern, which I shared with you, then it rallied well but now again moving down to the potential reversal zone of the same pattern:

Click here to visit this old idea https://www.tradingview.com/chart/BTCUSDT/UD39wZDS-Important-Bitcoin-update-for-Patrons/   **Down channel and rising wedge:** While moving up from the buying zone of Cypher, BTC also broke out a down channel and formed a rising wedge pattern. Now Bitcoin has broken down the support of the rising wedge .

**Bearish pennant:** After breaking down a rising wedge pattern, Bitcoin formed another bearish pennant which is considered a bullish biased pattern. But finally, BTC broke down the support of this pennant . Now the next major support is at $33K.

**For more details you can also watch the below video:** https://www.youtube.com/embed/r4nT8c6lGOA **Weekly view:** On a weekly time frame, BTC is forming higher highs and higher lows and formed up trendline support, this time this support is approximately at $33800.

**Conclusion**: Bitcoin has started breaking down bullish biased patterns which is a bit critical. But on the weekly view it is still forming higher highs and higher lows, therefore we need to keep our eyes on this weekly support now. **Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade**