BTC testing support soon. High probability of further downside.
Updated
Bitcoin tried to break the resistance level at 8400 but failed and will soon test the support at 7700. The daily MACD also looks like it is turning bearish as well as RSI falling into sell zone.
Bearish cross of 9 EMA on 21 EMA as well.
If the 7700 support breaks the next level of support is around 7200. The VPVR shows there is plenty of interest in that level.
The outlook is bearish for the short term however bitcoin is currently in the historical buy zone(between the yellow lines).
Please refer to the studies attached for more details.
Note: This is not financial advise. Do your own analysis before investing.
Bearish cross of 9 EMA on 21 EMA as well.
If the 7700 support breaks the next level of support is around 7200. The VPVR shows there is plenty of interest in that level.
The outlook is bearish for the short term however bitcoin is currently in the historical buy zone(between the yellow lines).
Please refer to the studies attached for more details.
Note: This is not financial advise. Do your own analysis before investing.
Trade active
Bounce expected to 7700 soon.Trade active
Bouncing according the arrows. Still in descending triangle.
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