As you can see price just broke the “Daily” Trendline and with the momentum of the 50,20, and 9 MA’s price will continue to go down to my target of $26,000 before it reverses into a temporary Uptrend and comes back down to Consolidate in the “Support Zone” area…..
So the Trend is still continuing down as we predicted last week. I expect price to approach $26,000 at the minimum due to the 200 MA sitting below the Support Zone on the Weekly Chart. Look for Consolidation in the Support Zone so the 200 MA can give Price Support as well to go back into a Bullish Movement
Bitcoin has only tested the bottom support twice under $30,000… It has yet to revisit so I’m expecting a knock at the door soon lol….
Also you can see the 4HR RSI Trend is rising as the Trend on the chart is declining towards the “Support Zone”…
This Divergence I believe will be the reason price will continue to go down and cross the Daily Trendline and...
