Not looking good for BTC
BTCUSDT is currently below the Ichimoku cloud with a strong bearish kumo twist just ahead.
We are also below the 180 EMA (a historic S/R), our breakdown of this support was pretty strong with little bounce back above it.
The red line (Hull suite) is a pretty strong indicator of a trend, currently it shows quite a clear downtrend with little pullbacks.
If we don't get strong buying pressure that could put us back into the cloud and potentially push us back into the mid 50's range. The most probable scenario is we continue ranging before another leg down.
We are also below the 180 EMA (a historic S/R), our breakdown of this support was pretty strong with little bounce back above it.
The red line (Hull suite) is a pretty strong indicator of a trend, currently it shows quite a clear downtrend with little pullbacks.
If we don't get strong buying pressure that could put us back into the cloud and potentially push us back into the mid 50's range. The most probable scenario is we continue ranging before another leg down.
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