Hi Traders,
Btc broke down from the triangle formed. We are currently resting on the 200 MA on the 4hr. If we do not break the 200MA we can expect a move back up. We will watch for the test of the bottom of hour triangle. If price break up from here then we can expected price to continue moving upwards. However, if this is not the case and price continues or turns bearish then we can expect a test of $30000 first and if the bears continue the then we can expect a test of the $28000. The $28000 mark has a lot of supply so we can look for an entry to go long from here.
Thanks
The Market Sniper Team
Btc broke down from the triangle formed. We are currently resting on the 200 MA on the 4hr. If we do not break the 200MA we can expect a move back up. We will watch for the test of the bottom of hour triangle. If price break up from here then we can expected price to continue moving upwards. However, if this is not the case and price continues or turns bearish then we can expect a test of $30000 first and if the bears continue the then we can expect a test of the $28000. The $28000 mark has a lot of supply so we can look for an entry to go long from here.
Thanks
The Market Sniper Team
