The
BTCUSD
price is now inserted in a horizontal channel (blue rectangle).
We await the breaking of the latter: in case it is downward the next support is at 7300.
In the case of an upward break, the crucial resistance is at 9200/9400. The breaking of this resistance would result in a strong buy signal and would decree once and for all the exit from the bearish trend. Beware, this does not necessarily mean the beginning of an uptrend.
Have a good trading!
BTCUSD
price is now inserted in a horizontal channel (blue rectangle). We await the breaking of the latter: in case it is downward the next support is at 7300.
In the case of an upward break, the crucial resistance is at 9200/9400. The breaking of this resistance would result in a strong buy signal and would decree once and for all the exit from the bearish trend. Beware, this does not necessarily mean the beginning of an uptrend.
Have a good trading!