AS we can see and we talked about it we would expect breakout of Red trendline near price 58K and that would be valid breakout after retest and then bullish market like Green path , else market strong resistance is still valid and the pressure provided by Red trendline dump price to new targets and lower price as shown with red path . Targets : A. 54200 B. 52500 C. 49900
if breakout happen the long term targets or target would be like :
and we talked about this important descending channel that formed here . DISCLAIMER: 1.trade carefully and have stop loss for sure 2.Past performance is not indicative of future results.
<<Traders comment below and let me know your opinion about this analysis even simple ((agree)),((not sure))>> <<press like👍 if you enjoy💚>>
Bullish if trendline resistance is broken upward 🐻❄️🙏😊😃
MMBTtrader
⋅
@PolarHusk, yes for sure we consider that too and thanks a lot dear
amaloyz
⋅
@MMBTtrader, once 54k is broken 4h, its done to 47k, short term btc is bearish, at least for the next two weeks, hard to say afterward, the chart looks nothing like the last two run but that of the top of 2017, before the cave down !!, otherwise when it was at 59k, it would have gotten a break out, but it tried so hard for almost an entire week in vain, enough said for short term 100% bearish.