Two possibilities
Hi!
When looking at this daily chart my opinion is that BTC is either way going to test that 3000-3300 area first to test the support once again. From that point what happens next is...
A)support breaks and the price is going to keep falling down to 1900-2100 area where there's another support, then breaks downtrend and tests 3000 again. According to the RSI the possibility for another drop is there. Also there's a bearish MACD crossover going on ATM which might add fuel to the fire.
B)breaks the downtrend and rallies up to 4000s,
Anyways, I think that A has a bigger possibility to come true at this point.
Good luck everyone!
When looking at this daily chart my opinion is that BTC is either way going to test that 3000-3300 area first to test the support once again. From that point what happens next is...
A)support breaks and the price is going to keep falling down to 1900-2100 area where there's another support, then breaks downtrend and tests 3000 again. According to the RSI the possibility for another drop is there. Also there's a bearish MACD crossover going on ATM which might add fuel to the fire.
B)breaks the downtrend and rallies up to 4000s,
Anyways, I think that A has a bigger possibility to come true at this point.
Good luck everyone!
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