Hello Traders,
as we can all see Bitcoin got rejected again from 27400 level. there is no way to talk about any bullish sentiment as long as the price is under 27600 (the red thick line mentioned in the chart).
The Daily close under the key support (26500 level) will confirm the continuation of the downside movement.
Also, about the possible falling wedge pattern, the pattern still not completed yet and you can't take a trade based on it as long as there is no breakout.
If we got a confirmation of the wedge breakout, Bulls will need to overcome the 28k resistance with strong volume.
In my opinion, we are going to see Bitcoin price declining towards 25200 and 24100 and that's will give us an opportunity to short Bitcoin with expected profits of 10% with no leverage as I don't recommend leveraging.
Stay safe, thank you!
as we can all see Bitcoin got rejected again from 27400 level. there is no way to talk about any bullish sentiment as long as the price is under 27600 (the red thick line mentioned in the chart).
The Daily close under the key support (26500 level) will confirm the continuation of the downside movement.
Also, about the possible falling wedge pattern, the pattern still not completed yet and you can't take a trade based on it as long as there is no breakout.
If we got a confirmation of the wedge breakout, Bulls will need to overcome the 28k resistance with strong volume.
In my opinion, we are going to see Bitcoin price declining towards 25200 and 24100 and that's will give us an opportunity to short Bitcoin with expected profits of 10% with no leverage as I don't recommend leveraging.
Stay safe, thank you!
