BTCUSDT: Waiting for a bearish wave?
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Overall, BTCUSDT continues to show weakness on Friday! The price quickly retraced the decline to $63,900 but remained stuck in the down trend.
Technically: The 1D setup shows bearish market resistance along with a strong EMA 34.89, which creates an equivalent reaction (reinforcing the bearish outlook for the coin).
In the above scenario: I personally still believe that BTCUSDT is on a down trend in the future. Once the current support level is broken it would not be surprising if we see it fall further. What are your thoughts on this perspective?
Overall, BTCUSDT continues to show weakness on Friday! The price quickly retraced the decline to $63,900 but remained stuck in the down trend.
Technically: The 1D setup shows bearish market resistance along with a strong EMA 34.89, which creates an equivalent reaction (reinforcing the bearish outlook for the coin).
In the above scenario: I personally still believe that BTCUSDT is on a down trend in the future. Once the current support level is broken it would not be surprising if we see it fall further. What are your thoughts on this perspective?
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