Good Day :) Hope everybody is having a great trading week so far (That's if you've been following my analysis) wink*
Technical Analysis: BTC/USD
Bias: Bearish - On the Daily timeframe price action is moving in a bearish channel (Solid line). We will wait for price action to touch the descending trendline (Solid Line) which is in line with the previous support zone (Yellow Box) which could act as a resistance zone. Once price action has touched either one of these technical zones we then look for the break of the ascending trendline (Dotted Line) for an entry.
Please don't forget to smash that like button & share if you've benefited in anyway from this post.
Trade safe & have a great trading week :)
Technical Analysis: BTC/USD
Bias: Bearish - On the Daily timeframe price action is moving in a bearish channel (Solid line). We will wait for price action to touch the descending trendline (Solid Line) which is in line with the previous support zone (Yellow Box) which could act as a resistance zone. Once price action has touched either one of these technical zones we then look for the break of the ascending trendline (Dotted Line) for an entry.
Please don't forget to smash that like button & share if you've benefited in anyway from this post.
Trade safe & have a great trading week :)