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CryptoEstratega

BITCOIN: Looking bearish, possible break of support incoming.

Short
Bitcoin / TetherUS (BINANCE:BTCUSDT)  
CryptoEstratega  
BINANCE:BTCUSDT   Bitcoin / TetherUS
Trend Analysis Chart Patterns Technical Indicators Bitcoin (Cryptocurrency) bitcoinforecast bitcoinprice bitcoinusd bitcoindollar bitcointrading bitcoinanalysis
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trendanalysis chartpattern indicator bitcoin bitcoinforecast bitcoinprice bitcoinusd bitcoindollar bitcointrading bitcoinanalysis
BTCUSDT in the Daily, looks bearish as it is now, because:

  • Below the Ichimoku Cloud
  • Below the 180 EMA
  • At the start of a possible weak downtrend (Hull suite indicator)
  • Possible build up against support, before a breakdown

If price continues building up against support, a possible breakdown could push BTCUSDT price below the support of this range (31K to 28K)

Volume did increase at this small bounce off support, but if price continues building against support, things will be looking bearish.

ALWAYS PRACTICE RISK MANAGEMENT, RISK MANAGEMENT IS VITAL TO TRADING.

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