Hi Guys,
BTC's upward trend hasn't started yet and BTC remains in downtrend.
Currently, BTC is moving inside "Symmetrical Triangle". Generally, this patern is difficult to predict. But in most cases "Symmetrical Triangle" is continuation pattern.
RSI-Stoch also indicates, that the new uptrend hasn't started yet.
So, I likely expect next drop down to $3200 - $3000 zone.
Supports: $3600-$3500 & $3200-$3500.
Resistance: $4000-$4200 & $4500-$4600.
This bearish idea will be invalidated if BTC close above $4100 daily.
Please hit that "like" button, follow me or leave your comments. Thank You!
BTC's upward trend hasn't started yet and BTC remains in downtrend.
Currently, BTC is moving inside "Symmetrical Triangle". Generally, this patern is difficult to predict. But in most cases "Symmetrical Triangle" is continuation pattern.
RSI-Stoch also indicates, that the new uptrend hasn't started yet.
So, I likely expect next drop down to $3200 - $3000 zone.
Supports: $3600-$3500 & $3200-$3500.
Resistance: $4000-$4200 & $4500-$4600.
This bearish idea will be invalidated if BTC close above $4100 daily.
Please hit that "like" button, follow me or leave your comments. Thank You!
Note
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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.