BTC is struggling in a sideways range between support (green box) and resistance (red box). The price need to choose in the coming days whether it will break the support or resistance.
For me it looks more likely that the support will be broken coming days, considering we are making lower highs. After a break of support we could have one final little push to the downside which will result In a bullish divergence on the RSI and MACD.
Downside targets:
1) 1.382 fib extension
2 1.618 fib extension (most likely)
3) Support around 20K (less likely)
Upside targets:
Only if the resistance (red box) breaks.
1) resistance box at 48 - 50K.
Stay patience to trade, and wait till the market tells you the direction. I wouldn't short, rather I will look for longs at the support.
For me it looks more likely that the support will be broken coming days, considering we are making lower highs. After a break of support we could have one final little push to the downside which will result In a bullish divergence on the RSI and MACD.
Downside targets:
1) 1.382 fib extension
2 1.618 fib extension (most likely)
3) Support around 20K (less likely)
Upside targets:
Only if the resistance (red box) breaks.
1) resistance box at 48 - 50K.
Stay patience to trade, and wait till the market tells you the direction. I wouldn't short, rather I will look for longs at the support.