Hello everyone!
Morning for bulls not worked. At night, there was a squiz to the level of 5725, where the market obviously got rid of the stop orders of sellers, after which the bears went on the offensive to the main level of customer support, while breaking through the local support, which I wrote yesterday. The fragile ascending channel was broken in just one movement. Next fell already stop orders buyers.
As a result of the past events, at the moment there was a breakdown of support at 5500. It is not a pleasant situation for the entire crypto market, as I believe that the consolidation of the price below this level will mark a fall to the next level, which is now at 4200. This means that the exchange rate can overcome the mark below 4000.
Since the breakout has not yet been confirmed, the bulls still have time until the end of the day to quickly seize the initiative in their hands, by returning the BTC rate above the 5520 mark.
If before the end of the course again, it will be a good stepping stone for the bulls and give them strength.
If not, you'll have to prepare for the worst-case scenario.
All easy trading, good luck and of course profits.
