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BTC Bounce @ $39,300
What I see:
1H chart
1. Descending Channel - lower lows and lower highs
2. Descending MACD - more momentum to the downside
3. Previous support @ $39,300
My thoughts:
BTC will break the channel and descend quickly towards $39,000, but will be met with support at that level. It will then consolidate for a few hours before making its next move.
Analysis at the $39,300 level will help determine whether the next move will be up or down.
1H chart
1. Descending Channel - lower lows and lower highs
2. Descending MACD - more momentum to the downside
3. Previous support @ $39,300
My thoughts:
BTC will break the channel and descend quickly towards $39,000, but will be met with support at that level. It will then consolidate for a few hours before making its next move.
Analysis at the $39,300 level will help determine whether the next move will be up or down.
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