BTC breaked out bear flag and continues downtrend
Hi welcome to this trend analysis of the current BTC price action. We see BTC on th 4-hour chart has a little upswing outside of the bear-flag and now continues the way down.
We are now at the 100 % retracement mark wich we formed support before, we have to look at price action here but i think we will run down this point.
The next potential support will be at around 7000 wich we will see in the next days.
This is the same length as the wave we had before now.
You can also see that BTC has bounced from the 61.8 retracement mark wich i gave you in my last analysis as potential resistance and it even didnt touched the balck downtrend line wich you can see in my chart.
At all we can say that we didnt found our bottom now, BTC is bearish at this moment and likely to go under the 6K support!
Good luck with your trades!
We are now at the 100 % retracement mark wich we formed support before, we have to look at price action here but i think we will run down this point.
The next potential support will be at around 7000 wich we will see in the next days.
This is the same length as the wave we had before now.
You can also see that BTC has bounced from the 61.8 retracement mark wich i gave you in my last analysis as potential resistance and it even didnt touched the balck downtrend line wich you can see in my chart.
At all we can say that we didnt found our bottom now, BTC is bearish at this moment and likely to go under the 6K support!
Good luck with your trades!
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Wyłączenie odpowiedzialności
Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.