#bitcoin - Broken trendline, keylevel support.
Good morning traders,
today we are set below the Daily Pivot on 60 and the SMA´s are still messy, so no clear direction defined yet.
The price has not managed yet to overcome the Daily Parallel Channel Middle Line, which is increasing the odds to the bearish side. A retest of the $7400 resistance could initiate another drop.
Targets are sadly below 7k. There is still a chance this goes more sideways followed by another attempt to attack the Channel Middle Line forming an ascending triangle on 240 and then breakup.
I have marked all relevant prices for you and set question marks on significant decision locations. Watching out for specific candlesticks now to define a trade. Tendency short, not set in stone.
Have a lovely Tuesday.
Neru
today we are set below the Daily Pivot on 60 and the SMA´s are still messy, so no clear direction defined yet.
The price has not managed yet to overcome the Daily Parallel Channel Middle Line, which is increasing the odds to the bearish side. A retest of the $7400 resistance could initiate another drop.
Targets are sadly below 7k. There is still a chance this goes more sideways followed by another attempt to attack the Channel Middle Line forming an ascending triangle on 240 and then breakup.
I have marked all relevant prices for you and set question marks on significant decision locations. Watching out for specific candlesticks now to define a trade. Tendency short, not set in stone.
Have a lovely Tuesday.
Neru
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