BTC broke the support at $45k and made a new local low. This is not good and gives credence that price can continue down until we reach $41k where we have good support.
The price levels where we find ourselves now are not significant and likely unable to hold price from going lower.
For this reason I remain bearish for now until we reach our support at 41k where I'd expect price to stop its descent and break our diagonal resistance and push higher through the levels. Until then I recommend caution on any entry or long, on BTC or altcoins.
Best trade right now? Wait for support to be found or resistance to break.
Like and follow if you liked this idea! Also join my crypto community to stay in touch and watch my technical analysis videos on YouTube. :)
The price levels where we find ourselves now are not significant and likely unable to hold price from going lower.
For this reason I remain bearish for now until we reach our support at 41k where I'd expect price to stop its descent and break our diagonal resistance and push higher through the levels. Until then I recommend caution on any entry or long, on BTC or altcoins.
Best trade right now? Wait for support to be found or resistance to break.
Like and follow if you liked this idea! Also join my crypto community to stay in touch and watch my technical analysis videos on YouTube. :)
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