Bitcoin is trading around $26,700. Short-term trend remains bearish as price continues forming lower highs and lower lows. Price remains inside the red downward sloping channel. Resistance is found at $27,510 and support at $25,550. Price remains vulnerable to a move lower towards $25,000 as long as price remains inside the bearish channel. So far there is no sign of a reversal or stop of the bearish trend.
The material has been provided by InstaForex Company – www.instaforex.com
Blue lines- bearish RSI divergence
Red lines- bearish channel
Bitcoin is trading around $26,700. Short-term trend remains bearish as price continues forming lower highs and lower lows. Price remains inside the red downward sloping channel. Resistance is found at $27,510 and support at $25,550. Price remains vulnerable to a move lower towards $25,000 as long as price remains inside the bearish channel. So far there is no sign of a reversal or stop of the bearish trend.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: