We are looking at 4h BTCEUR plot. So BTC fooled to be recovering and people who believed in the response lost their money.
But we know that it didn't left the main downtrend and since that does not happen, the price of btc will decline even further.
Now the results or the break from the previuos small bullish flag will change the price to the 5600 euro region.
Also we are now under the 15 EMA, which was very good indicator to see if the trend will break down or not. It proved before that it works very well as resistance line. Now we are under it again, so probably we could count on it as a indicator again in the future.
But we know that it didn't left the main downtrend and since that does not happen, the price of btc will decline even further.
Now the results or the break from the previuos small bullish flag will change the price to the 5600 euro region.
Also we are now under the 15 EMA, which was very good indicator to see if the trend will break down or not. It proved before that it works very well as resistance line. Now we are under it again, so probably we could count on it as a indicator again in the future.