BTC USDT slightly bearish, Daily is positive
The descending channel has been acting as resistance and support successfully this Week End and we have now headed to the 0.618 Fib on the 4h chart , for now it is holding.
RR ratios for longs and shorts are not ideal for the moment so we will hold for a while.
Important level to watch closely is the 0.618 Fib which is equivalent to around 41k. The orderbook is also very heavy on the $41k level, expecting a slight rebound but having a bearish bias.
The daily is still looking good and this drop could confirm a channel.
RR ratios for longs and shorts are not ideal for the moment so we will hold for a while.
Important level to watch closely is the 0.618 Fib which is equivalent to around 41k. The orderbook is also very heavy on the $41k level, expecting a slight rebound but having a bearish bias.
The daily is still looking good and this drop could confirm a channel.
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