Hi
BTC is in a downward channel as it kept rejecting the Demand zone and major resistane level at 40k
Now it will likely be down to 33k and test this key support level again, the 1 hour is looking bullish so BTC would go backup to test 40k before possibly turning bullish
However there is the possibility that the 1 hour could turn bearish and BTC could reject the 33k suport and break this level down to 27k
This would mean BTC next level would be potentially as low as 10k...
Im still Bullish on BTC and see it testing the 40k demand zone once again since the whole market including BTC is in a Sideways trend right now, with the exception of Oil prices which have extremely spiked.
Disclaimer:*Not a financial advisor. Please inform your own decisions off of your own analysis.
Thanks
Marlene
BTC is in a downward channel as it kept rejecting the Demand zone and major resistane level at 40k
Now it will likely be down to 33k and test this key support level again, the 1 hour is looking bullish so BTC would go backup to test 40k before possibly turning bullish
However there is the possibility that the 1 hour could turn bearish and BTC could reject the 33k suport and break this level down to 27k
This would mean BTC next level would be potentially as low as 10k...
Im still Bullish on BTC and see it testing the 40k demand zone once again since the whole market including BTC is in a Sideways trend right now, with the exception of Oil prices which have extremely spiked.
Disclaimer:*Not a financial advisor. Please inform your own decisions off of your own analysis.
Thanks
Marlene
Trade closed: target reached