We could draw several trendlines to BTCUSD. All of them seem to be already broken. This trendline is the last left to be broken in my analysis. If we get a daily close below 7600, then the breakout is valid and we should expect lower prices into the next few weeks.
Also the monthly candle is extremely bearish right now, and the month is almost over. It seems that we might get into a several weeks/months of correction. The first level of support in my eyes is the level of 4500-5000$.
I would like to hear other trader's views on that.
Also the monthly candle is extremely bearish right now, and the month is almost over. It seems that we might get into a several weeks/months of correction. The first level of support in my eyes is the level of 4500-5000$.
I would like to hear other trader's views on that.
Comment:
Trendline is now broken. Looking for a retest and then possibly lower