BTC/USDT (Testing 100D MA Support)

💎Technical Analysis Summary💎



BTC/USDT

-After the breakdown of the upward trendline support and 50D MA
-The price continued lower and currently testing the 100D MA area
-This is the second day of trading just barely above this important moving average
-If the Bulls failed to defend this current level
-Bitcoin could drop to 44k area which coincides of previous key pivot of support
-Take note of the increasing bearish volume which indicates a warning sign
-Please be cautious at the moment because there are no signs of bullish strength yet
-Make sure to follow your stop loss and try to reduce your position size
-Only strict risk management rule can help you survive during this type of market condition
-I will update the market once new price action develops




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