BTC/USD is ranging in the short term, so we’ll have to wait for fresh opportunities. It’s trading at 29,324 at the time of writing and it seems undecided. You already know from my analyses that the bias is bearish in the short term.
Technically, the crypto escaped from the bearish pattern, but a downside continuation is far from being confirmed. In the last 24 hours, BTC/USD is up by 0.58%, but it’s down by 1.93% in the last 7 days.
BTC/USD 29,114 Support!
As you can see on the H1 chart, the rate dropped from the flag pattern, it has retested the broken uptrend line but a downside continuation could be activated only after dropping below the S1 (29,114).
From the technical point of view, as long as it stays below the downtrend line, the crypto could extend its sell-off.
BTC/USD Forecast!
Coming back below the S1 (29,114) and making a new lower low activates a downside continuation.
The material has been provided by InstaForex Company – www.instaforex.com
BTC/USD is ranging in the short term, so we’ll have to wait for fresh opportunities. It’s trading at 29,324 at the time of writing and it seems undecided. You already know from my analyses that the bias is bearish in the short term.
Technically, the crypto escaped from the bearish pattern, but a downside continuation is far from being confirmed. In the last 24 hours, BTC/USD is up by 0.58%, but it’s down by 1.93% in the last 7 days.
BTC/USD 29,114 Support!
As you can see on the H1 chart, the rate dropped from the flag pattern, it has retested the broken uptrend line but a downside continuation could be activated only after dropping below the S1 (29,114).
From the technical point of view, as long as it stays below the downtrend line, the crypto could extend its sell-off.
BTC/USD Forecast!
Coming back below the S1 (29,114) and making a new lower low activates a downside continuation.
The material has been provided by InstaForex Company – www.instaforex.com
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