As always: just my idea I'm sharing here. No financial advice.
Based on the chart BTCUSD will keep going down more in the direction of the green trendline (can act as a support).
Black dotted lines make the (greater) bearish channel in downtrend.
I zoomed in on the current price action with dotted black lines as well. Strong downtrend as you can see.
The red horizontal lines are resistance levels. Price might bounce from here, before reaching the green (support) trendline.
Let's see how this plays out.
Trade active:
Update: BTC still on its way to the green trendline.
Following the bearish channels (the black dotted lines as well as the red lines)
Support & resistance area marked in red & green rectangles.
Update: BTC still on its way to the green trendline.
Following the bearish channels (the black dotted lines as well as the red lines)
Support & resistance area marked in red & green rectangles.