The price of BTC/USD has been dropping for the past couple of weeks. At the moment, there are no sings of a bullish reversal, and therefore our bias remains bearish. A nice descending channel has been formed and the price is ranging within the borders of it. Being at the upper boundary of the channel and nicely rejecting it, we are pretty optimistic that the price will continue dropping and reach the $40500 area of crucial support.
Happy trading, everyone!
Happy trading, everyone!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.