Bulls Lose this Fight (for now)
Bitcoin is currently trading in a bear flag channel.
Expect a test around 42,300 before it breaks downwards with force.
After breaking out of the channel, consolidation should occur around 39k-40k before its next leg down to 36k-38k area.
If BTC has a strong upward bounce at 39k , it may head towards the upper trend line around 44k.
Bulls have a lot of work to show any signs of a reversal.
This is not investment advice. DYODD.
Good luck!
Expect a test around 42,300 before it breaks downwards with force.
After breaking out of the channel, consolidation should occur around 39k-40k before its next leg down to 36k-38k area.
If BTC has a strong upward bounce at 39k , it may head towards the upper trend line around 44k.
Bulls have a lot of work to show any signs of a reversal.
This is not investment advice. DYODD.
Good luck!
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