BTC/USD still trading at the down trend on weekly chart

BTC / USD have not reclaim its up trend position even though it have a heavy upwards movement for the last few hours, the pivot point have not be close above as it coincide with Fibonacci retracement level 38.2%.


There are 2 Scenario

1. Price going to 3-4 Kish level buy zone and cumulative for buy orders and will be seeing another possible push. Else if price break below 3K level we will be seeing another buy entry near 1.7 Kish

2. Price hovering around buy zone of 6-7kish to cumulate orders and breaking downtrend line in a month if price unable to close below 6.4k (23.6% fib retracement level) in the next few weeks

Trade active:

the image will be a crucial closing line. when 4H close below. start selling, else we will look for a buy at any retracement price.

Trade active:

Price bounce off from a downtrendline have to watch position closely as the bounce still not forceful enough. once price close below 8000 USD will be very steady movement downward for the buy zone or maybe turning to ranging market