Another massive move to the downside could be coming in the crypto market as BTC price has failed to break key level 47000 this week, touching on and rejecting it as resistance the previous 3 days indicating that bears are strong and will push price lower.
I am favouring a push down to 42800 and possibly a lot lower if this support level breaks, 29000 would then be my target in the way of support.
Just to clear up, i am not against cryptos but i am just telling you my analysis based on what the charts are telling me! The markets feed us all the same information but we all get such different outlooks and outcomes, this is what makes trading so interesting.
I hope my analysis has helped you :)
I am favouring a push down to 42800 and possibly a lot lower if this support level breaks, 29000 would then be my target in the way of support.
Just to clear up, i am not against cryptos but i am just telling you my analysis based on what the charts are telling me! The markets feed us all the same information but we all get such different outlooks and outcomes, this is what makes trading so interesting.
I hope my analysis has helped you :)