Bitcoin / TetherUSShort
BTCUSDT 1D | Bitcoin market overview: Local downtrend
Hello, dear subscribers!
In the last review we wrote that the bulls were testing the upper limit of the trade zone 11,800 - 11,900.
After the bulls failed to pass an important border, the price of Bitcoin dropped to the lower border of the trading zone - 11,100 - 11,200. This movement formed a local downtrend. In case the bears managed to break through the zone 11,100 - 11,200, the next stop will be 10,600 - 10,800. MACD and RSI indicators are in the decline zone, which confirms the downtrend.
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In the last review we wrote that the bulls were testing the upper limit of the trade zone 11,800 - 11,900.
After the bulls failed to pass an important border, the price of Bitcoin dropped to the lower border of the trading zone - 11,100 - 11,200. This movement formed a local downtrend. In case the bears managed to break through the zone 11,100 - 11,200, the next stop will be 10,600 - 10,800. MACD and RSI indicators are in the decline zone, which confirms the downtrend.
Subscribe to the channel and stay with us!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.