BTC/USD inside bearish flag and price can drop to 36500$ soon
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Bitcoin is inside big bearish flag on 4h timeframe.
I see 2 main scenarios, one with pullback to top part of flag.
This is will be around resistance level 42500$
And second is if tomorrow S&P500 index will fall.
In this case BTC also will exit from this flag downward.
And price can fall until S&P will fall.
Because now correlation between BTC and S&P around 90%.
Target and support level for short is level around 36500$
I can indicate support area at 36000-37000$.
I expect this scenario, so be prepare for next movements.
Thanks for your time, we hope our work is good for you, and you are satisfied, wish you a good day and big profits.
Bitcoin is inside big bearish flag on 4h timeframe.
I see 2 main scenarios, one with pullback to top part of flag.
This is will be around resistance level 42500$
And second is if tomorrow S&P500 index will fall.
In this case BTC also will exit from this flag downward.
And price can fall until S&P will fall.
Because now correlation between BTC and S&P around 90%.
Target and support level for short is level around 36500$
I can indicate support area at 36000-37000$.
I expect this scenario, so be prepare for next movements.
Thanks for your time, we hope our work is good for you, and you are satisfied, wish you a good day and big profits.