Ongoing price action will continue to weigh on the BTC in opening the door for a retest of former lows
of 31'025, 30'066, psychological 30'000 , for the next significant target of 27'169, being the 61.8% Fibonacci
retracement of the 3'850-64895 rally.
Interesting to note that this target coincides also with the weekly clouds (27150-22925) and which should be seen as a very
strong in this time frame.
Watch shorter time frame for validation or invalidation of this expected scenario.
BTC is currently far away of KS or level @ 45'363 !
In order to neutralise this ongoing selling pressure, BTC should at least, recover above the primary downtrend line resistance ahead of KS , previously
Some tactical trading opportunities will, in due course, of course occur; offering countertrend buying opportunities which should be seen as
a corrective move only on a broad bear trend !
PLEASE KEEP IN MIND TO PROTECT YOUR COUNTERTREND EXPOSURE WITH TIGHT TRAILING STOP LOSS !!
Have a nice trading week.
All the best and take care
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