Based on BTC daily chart, it has been rejected at around $40k resistance for 4 consecutive days. This shows that the seller pressure is still very strong currently.
We may see BTC retest its previous support to find stronger buyer pressure.
MACD indicates that it is currently at the last phase of the downtrend in the short term meaning that the price may consolidate or test its resistance again at this region.
Buyer may still be waiting on the sideline due to the high volatility of the current market.
BTC is holding its current .236 fib level support. If it doesn't hold, it will likely to test its critical support again at around $32k region. This will again flush the price of altcoins.
We may see BTC retest its previous support to find stronger buyer pressure.
MACD indicates that it is currently at the last phase of the downtrend in the short term meaning that the price may consolidate or test its resistance again at this region.
Buyer may still be waiting on the sideline due to the high volatility of the current market.
BTC is holding its current .236 fib level support. If it doesn't hold, it will likely to test its critical support again at around $32k region. This will again flush the price of altcoins.
