BTC/USDT has confirmed the downward trend with the break of this downward line formation, consequently leading the ALTS market to lose much more value.
For now, EMA 100 has been serving as mobile support in the daily period, if Bitcoin loses this support we can see much below, going to 9,171 USDT or 0.68 FIB. Should it lose 0.68 FIB support, we could see Bitcoin test support close to the 0.786 FIB retracement level that would coincide with a bearish trend test that started in 2018.
In short, the crypto market is down and I don't see good opportunities for bulls in the coming days.
Always do your own research and have a great week.
For now, EMA 100 has been serving as mobile support in the daily period, if Bitcoin loses this support we can see much below, going to 9,171 USDT or 0.68 FIB. Should it lose 0.68 FIB support, we could see Bitcoin test support close to the 0.786 FIB retracement level that would coincide with a bearish trend test that started in 2018.
In short, the crypto market is down and I don't see good opportunities for bulls in the coming days.
Always do your own research and have a great week.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.