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BTC/USD technical analysis: There is another technical formation on the hourly chart

FX Street

Updated: 26 Sep. 2019 | 17:12

BTC/USD is down another 2.83% today after the major fall two sessions ago.
Now there is a falling wedge pattern on the hourly chart that could indicate which way price may turn.

The market found support at 8k today as the bearishness continued.

After the fall two sessions ago the price has now consolidated into a falling wedge formation.

Mean value is around 8,400 so if we see another rejection keep an eye on price action there.

Bulls are hoping for a break of the pattern high at 8,800 to signal a move higher.

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