Pattern – LH, leg lower. Possible targets – 26,330 Support – 26,330 Resistance – 27,890
Today’s update is on Bitcoin as sellers have started making a solid move against the leg higher we have seen recently. Overall today, money has been moving out of risk currencies and into safe havens. This includes crypto, which has been treated as a hedge in recent history.
Did we see a new LH set up this week, and will today’s resistance hold after that sign set up a new move back to support? If buyers can get back control, we may still see the leg higher live, but for now, we are watching if selling is going to accelerate.
We feel a hold above 27,000 is a key for buyers, and a move back to or through 26,330 support will be a win for sellers.
Thanks for stopping by. Good trading, and have a great day.
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MinimumWagerLvl1
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@zAngus, ofcourse put the bearish TA's to the home page so people will believe that there will be no recovery.
zAngus
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@abdullah77simsek, Im bullish. Current trend has been leaning bearish though.
Eightcap
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@abdullah77simsek, Hi Abdullah, thanks for your comment. I made the analysis. When I put this up, I was bearish on the short-term, but overall I'm still bullish. 26,350 support was key for me. So far, it continues to hold with the last push lower not testing it.
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