BTC could keep declining in coming days
looking at daily chart give us some clue that maybe we should expect more drop in coming days.
so if we consider the channel, will notice that price has been moving into this channel most of the time( since last 80days from now).
now price is moving between 2 support and resistant area for a while (more than a month)
also 50 days moving average has been tested for second times. and MACD shows a bearish divergent.
those signs warning us to be more careful if we are still in long position.
I'm not expecting price drop sharply from now but in coming days if daily price close
below the channel and 50MA we could expect for more drop.
however closing above 48K is another scenario but less possible yet, let's see
Enjoy the market
so if we consider the channel, will notice that price has been moving into this channel most of the time( since last 80days from now).
now price is moving between 2 support and resistant area for a while (more than a month)
also 50 days moving average has been tested for second times. and MACD shows a bearish divergent.
those signs warning us to be more careful if we are still in long position.
I'm not expecting price drop sharply from now but in coming days if daily price close
below the channel and 50MA we could expect for more drop.
however closing above 48K is another scenario but less possible yet, let's see
Enjoy the market
Trade active:
keep moving down...
