Hi traders, as you can see bitcoin has been downtrending since the 10k rejection in a channel which at this moment has been respecting. At the moment looking at RSI, the weakness of the bulls which is reflected in volume, I really see a bearish scenario which will led us to the support we have been respected since April. As you can see I make a comparison between march downtrending channel and this one.
To see a bullish scenario bulls have to manage to blast off that bearish channel and then we could start talking about higher prices in bitcoin.
As far as concern mid and short term I see bitcoin bottoming around 6800 level and then starting another leg up which will lead us to the top of the triangle.
happy trading guys!
BTCUSD
To see a bullish scenario bulls have to manage to blast off that bearish channel and then we could start talking about higher prices in bitcoin.
As far as concern mid and short term I see bitcoin bottoming around 6800 level and then starting another leg up which will lead us to the top of the triangle.
happy trading guys!
BTCUSD