Anemic price action after breakdown from >100 days of top consolidation.
No signs of reversal or even a bottom on Better SCMR (compare 3k bottom price action).
Price would need to climb above distribution order block (rectangle overhead) to continue uptrend. Very unlikely to happen anytime soon. More downside to come.
Simple and to the point.
1.Currently we are sitting within the $8000 range
2. 20 day moving average of $8120 is acting as strong resistance
3. Bearish sentiment has set in on the MACD and RSI
4. As of right now Next level of support is looking to be $7850
5. Failure to hold $7850 could see a further decline to the 50 day moving average of $5700
6. Possibly within...
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-EurUSD is hovering around multitimes resistance level
-Potentially a breakdown the support level is expected to hit
-Key levels to watch for in the pair are also highlighted
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I don't follow BTT very much did a little charting, so take my analysis with a grain of salt.
Watch for a break between 3850-3820 today (or when ever it attempts to enter the lower end of my pitchfork.
If BTT finds support we may have a short move up until ~the 18th of this month.
If the market cap doesn't break down after touching bases with ~212 Billion i could see ~425 Billion by the end of the year.
Possibly an ALT season while BTC crashes, but that's unlikely as of now.
Watch for a break into the lower end of my Pitchfork projection.
Safe trading you guys.