BTCUSD was consolidating sideways for last 3 weeks between 22300 and 24200 , highlighted in rectangular box and we saw the consolidation break down today. This is a short term trend reversal signal, with immediate target 21478. This was a previous breakout level and should show some support , failure to hold this level will move BTC to next target 18800.. This a a strong support level and we should see some bounce off that level. If that level breaks, we'll looking at target 16500 and 15500.
Let me know your thoughts in comments.
Trade active
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Target1 - 21478 achieved on 10-Feb, low was 21467.. It hit this support level and bounce immediately .. it will retest 22300 resistance levels.
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BTC hit 22300 resistance levels yesterday.. trying to break to upside.. need to wait and see if it has buyers supporting the strength.
Trade closed: stop reached
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Bearish pattern failed.
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Bearish pattern triggered.. Support 21478 is broken.. next target at 18800, 18603 support levels..