We see a break below the important trend line on daily graph. If btc closes below the trend line, a new down move, targeting 3456, is probable. Looking at the other direction, If the bulls break out of the resistance of 4075, bitoic can test 4500 level again
Trade closed: target reached:
Last week we discussed the selling pressure that occured after the break below the trend line and said "We see a break below the important trend line on daily graph. If btc closes below the trend line , a new down move, targeting 3456, is probable. Looking at the other direction, If the bulls break out of the resistance of 4075, bitoic can test 4500 level again". BTC did close below the trend line and our target (3456) was hit. We will be publishing new analses soon...