50.2-52K mid term target

Morning guys,

So it seems we've correctly reversed our position down from 62K area. Today we increase the scale a bit and take a look at daily chart. Indeed BTC has broken triangle down as we've suggested. But it is more important that it also has broken K-support level and only oversold stops the downside continuation.

This makes us to consider next downside target as 50.5-52K where next strong support stands. But before that BTC could show tactical bounce up to 60.5 area because of oversold, and maybe re-test broken triangle line.

I'll anyway mark this update as "bearish" although first we could get the upside bounce...

Profit to everybody,
All the best...

Trade active:

As you could see guys - everything is going great, according to our trading plan. Upside pullback that we've discussed has started...