BTC/USD TA Update (Short-term rally is ended?)
BTC/USD
Bitcoin failed the short-term rally and has now broken the upward trend-line support.
Technically, this is a bearish scenario for Bitcoin as the price closes below 50MA on the 4H period.
8700 support is not strong enough to hold if we will look at the higher time-frame.
If the bearish momentum will continue further, there is a chance we will be revisiting the 8200-8000 regions
in the coming days before we could experience a strong recovery to the upside.
Local priority for the coming days is bearish.
Bitcoin failed the short-term rally and has now broken the upward trend-line support.
Technically, this is a bearish scenario for Bitcoin as the price closes below 50MA on the 4H period.
8700 support is not strong enough to hold if we will look at the higher time-frame.
If the bearish momentum will continue further, there is a chance we will be revisiting the 8200-8000 regions
in the coming days before we could experience a strong recovery to the upside.
Local priority for the coming days is bearish.
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