BTC Technical Analysis: Make or Break support area
BTC is at a crucial decision point. It can continue going sideways or go plunge straight down. Let's look at the chart to see where this can go.
Bitcoin broke the previous support(in red) today, confirmed to be resistance after the pullback in the 1H. Bitcoin also crossed under the yellow support line and the 0.618 Fib, however we should wait for the candle close. If broken, BTC may test the green support, which if broken, leaves room for price to dip into the 26k-27k area. BTC is also sitting on a possible lower channel, which we will see if it bounces or not.
There is still no strong signs of where BTC will go from it's range. I will keep updating my TA on BTC. For now, we'll see what happens.
Bitcoin broke the previous support(in red) today, confirmed to be resistance after the pullback in the 1H. Bitcoin also crossed under the yellow support line and the 0.618 Fib, however we should wait for the candle close. If broken, BTC may test the green support, which if broken, leaves room for price to dip into the 26k-27k area. BTC is also sitting on a possible lower channel, which we will see if it bounces or not.
There is still no strong signs of where BTC will go from it's range. I will keep updating my TA on BTC. For now, we'll see what happens.
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