BTC/USD (Short-term Weakness?)

💎Technical Analysis Summary💎



BTC/USD

-Bitcoin failed at 52 dollar resistance zone and has now come back to its recent low
-The 45k local support must hold if we want a shorter consolidation
-And bounce up to break the new resistance trendline around 50k level
-To invalidate these bearish signs in this short term analysis
-Worst-case scenario, BTC will retest the 41k dollar area which was previous resistance
-Plus with the confluence of 200MA in the 4H time frame
-There is a good chance of reaction bounce if the price will go that deep
-So prepare for another correction including most altcoins
-I expect the Altcoins to test their 50D MA support if we get there
-Crucial time for both BTC and Altcoin, we are about to enter the weekend
-Please trade responsibly and follow your plan




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