• BTC is in a critical situation, at the moment, as it is at a key support level as seen in the weekly chart;
• The support at $17,592 is the bottom of a Descending Triangle chart pattern. If BTC loses it, the next stop is the next support near $14k;
• BTC would need to do a very quick reaction and break the purple line in order to avoid such drop and reverse the bearish sentiment;
• In addition, the 21 ema is pointing down, and it is very close to the purple line, making it a dual-resistance area;
• For now, let’s pay attention on these key points. I will keep you guys posted.
Remember to follow me to keep in touch with my analyses!
• The support at $17,592 is the bottom of a Descending Triangle chart pattern. If BTC loses it, the next stop is the next support near $14k;
• BTC would need to do a very quick reaction and break the purple line in order to avoid such drop and reverse the bearish sentiment;
• In addition, the 21 ema is pointing down, and it is very close to the purple line, making it a dual-resistance area;
• For now, let’s pay attention on these key points. I will keep you guys posted.
Remember to follow me to keep in touch with my analyses!
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