BTC- currently testing support
We are currently testing support on the 42xx level, if we close below this on the daily the likely scenarios are given in the chart.
Given the macro is looking bad, the overall investment sentiments around all asset classes are negative and there is global sell off across all asset classes globally. Bitcoin cannot escape the ambit of overall investor sentiments. So in case of a likely break of the current support, we might go in a consolidation zone as shown in the chart. The bottom of this zone is likely to hold at 32xx.
Good luck
Given the macro is looking bad, the overall investment sentiments around all asset classes are negative and there is global sell off across all asset classes globally. Bitcoin cannot escape the ambit of overall investor sentiments. So in case of a likely break of the current support, we might go in a consolidation zone as shown in the chart. The bottom of this zone is likely to hold at 32xx.
Good luck
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