This strong downtrend for BTCUSDT seems to have found a range to consolidate for a white and maybe even reverse
Today we are seeing some action on the upside, but with very little VOLUME, this could probably mean a dead cat bounce.
We should be very careful around this things, the downtrend has been very strong and we have quite some heavy resistance above us.
Resistsance right now:
If we can get some volume we might still remain in the range, and start consolidating on the upper side of the range, if we also enter the ichimoku cloud we could move back into the 40K's.
Today we are seeing some action on the upside, but with very little VOLUME, this could probably mean a dead cat bounce.
We should be very careful around this things, the downtrend has been very strong and we have quite some heavy resistance above us.
Resistsance right now:
- 180 EMA
- ICHIMOKU CLOUD
- 40K
If we can get some volume we might still remain in the range, and start consolidating on the upper side of the range, if we also enter the ichimoku cloud we could move back into the 40K's.
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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.