BitcoinShort
BTC SELLING ORDER READY AIMING 66.350
Technical Analysis Update
Since reaching the 68,200 level on July 22, the price action has shown signs of a bearish trend. The RSI indicated a bearish signal, leading to a decline of 4,758 points or 6.97%. Currently, there are stronger signals at the moment suggesting that the uptrend is weakening, and the price action is approaching to break my drawn trendline.
I have set a pending sell order at 67,800 with a target of 66,350. If the trendline and the MA50 are breached, we could see an extended selling spree towards my expectations. However, if the price action breaks my 68,400 stop loss and the 68,500 psychological resistance, there is potential for the price to reach 70k - 72k levels before the next bearish correction.
Keep an eye on these key levels for potential trading opportunities.
Since reaching the 68,200 level on July 22, the price action has shown signs of a bearish trend. The RSI indicated a bearish signal, leading to a decline of 4,758 points or 6.97%. Currently, there are stronger signals at the moment suggesting that the uptrend is weakening, and the price action is approaching to break my drawn trendline.
I have set a pending sell order at 67,800 with a target of 66,350. If the trendline and the MA50 are breached, we could see an extended selling spree towards my expectations. However, if the price action breaks my 68,400 stop loss and the 68,500 psychological resistance, there is potential for the price to reach 70k - 72k levels before the next bearish correction.
Keep an eye on these key levels for potential trading opportunities.
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