#BTCUPDATE - 28.5.21
Looks like $40k just couldn't hold. There have been a couple of break downs of support and currently retesting the $36k resistance now - although with the low volume it is looking like further movement down will be on the cards especially going into the weekend.
There is a pretty clear symmetrical triangle forming suggesting the price should get to about $32.6k before find support to bounce.
If $36k is regained then equally we will probably stay within this descending triangle pattern holding $36k as the primary support with a very good chance of breaking up from there.
Should we break below $32.6k then start to be very wary as the bottom might completely fall out.
Keep leverage positions low at the moment if at all with this kind of volatility.
Spot bots are fine nothing needs adjusting - can target that $32.6k support for adding funds to any trades that required it which should hopefully see a solid bounce and keep a close eye on snipers especially if you are overclocking them.
Looks like $40k just couldn't hold. There have been a couple of break downs of support and currently retesting the $36k resistance now - although with the low volume it is looking like further movement down will be on the cards especially going into the weekend.
There is a pretty clear symmetrical triangle forming suggesting the price should get to about $32.6k before find support to bounce.
If $36k is regained then equally we will probably stay within this descending triangle pattern holding $36k as the primary support with a very good chance of breaking up from there.
Should we break below $32.6k then start to be very wary as the bottom might completely fall out.
Keep leverage positions low at the moment if at all with this kind of volatility.
Spot bots are fine nothing needs adjusting - can target that $32.6k support for adding funds to any trades that required it which should hopefully see a solid bounce and keep a close eye on snipers especially if you are overclocking them.
