anedjai

BTC to continue it's short term downward trajectory for now...

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
BTC bounced back from the area that was just above the major log downward trendline as well as a key resistance area which was determined by the previous recent high. Looking at our upward channel that we have been in since the major drop to 6k, I believe BTC will continue falling in the very short term until it touches the bottom of the channel which also aligns with a relatively key support line. Furthermore, this area is just underneath the 200 EMA on the 4h as well as the blue ichimoku line. These would help further cement the area of 10.2k and 10.3k to be good support.
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