Last week
BTCUSD
dipped below the 25,5k-25k support zone but without a clear close underneath the 25k support line at the end of the day. The dip was short-lived and BTC was able to climb back in, and over, the support zone.
At the moment BTC is around 26,5k, near the upper line of the descending channel (which lines up with the 50MA-line). If BTC can break the upper line decisively and retest it as support, BTC could make another run for the 31k resistance line.
On the bearish side, if BTC makes a fall and closes under the 25k support line, we could see more downside and a test of the lower line of the descending channel (near the 200MA-line).
The next few days we will probably see some consolidation in the 25k-26,5k region. This consolidation could take the form of a pennant or descending triangle.
BTCUSD
dipped below the 25,5k-25k support zone but without a clear close underneath the 25k support line at the end of the day. The dip was short-lived and BTC was able to climb back in, and over, the support zone. At the moment BTC is around 26,5k, near the upper line of the descending channel (which lines up with the 50MA-line). If BTC can break the upper line decisively and retest it as support, BTC could make another run for the 31k resistance line.
On the bearish side, if BTC makes a fall and closes under the 25k support line, we could see more downside and a test of the lower line of the descending channel (near the 200MA-line).
The next few days we will probably see some consolidation in the 25k-26,5k region. This consolidation could take the form of a pennant or descending triangle.
