Our Medium Term Trend Model has gone bearish recently, and current price action also confirm that the market is currently bearish. Using our Peak & Valley indicator for levels and the Liquidity Weighted Moving Averages for trend analysis, we have determined 4 possible price paths INDEX:BTCUSD can take over the next few days:
1) retest 42.6k and dip to 38k 2) retest 42.6k, dips below 40.5k before retesting and going to 38k 3) retest 41.8k and dip to 38k 4) retest 41.8k, dips below 40.5k before retesting and going to 38k
Should any of these possibilities play out, remember to use confirmation from other forms of analysis such as reversal or sensitive indicators to confirm price is rejecting those levels