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gmaster29

BTCUSD - Short Term Consolidation Range 25300 to 27300

Bitcoin (COINBASE:BTCUSD)  
gmaster29 Updated   
COINBASE:BTCUSD   Bitcoin
Trend Analysis Chart Patterns Technical Indicators
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trendanalysis chartpattern indicator
BTCUSD has recently broken the major support up-sloping (yellow) trend line and bounced off at major support level 25300 (level 1).. I expect BTCUSD to consolidate between 25300 to 27300 in very short term as shown in blue arrows.. before it picks up a direction either upwards or towards.. I have marked 3 support levels in green and 3 resistance levels in pink.. Will let the charts play for next few weeks till we get a clear direction. Short term its looks oversold, I think we'll see some pullback in US 10 Year yield and a short term bounce in all risk assets.
Comment:
BTCUSD has been trading sideways for last 7 days and is forming a bear flag.. I believe the trend is getting biased towards downside and would retest the immediate support levels 25338 , 24750..
snapshot
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