Expected trading for the rest of day is between 12850.00 support and 16000.00 resistance
The bearish correction started due profit-taking at 16600.00 and
bitcoin price broke 15000.00 level strongly to reach 14400.00.
So What Next!
The price now around 14400.00 and technical indicators giving mixed signals.
Bitcoin price surging to unprecedented levels the reason why there’s a big risk of a tumble as it goes.
100 SMA is still above 200 SMA so the climb is more likely to continue than to reverse.
Stochastic indicate the sellers already take over price action.
RSI suggesting bearish pressure that could keep the correction going.
Expected trading for the rest of day:
is between 12850.00 support and 16000.00 resistance.
Expected trend for the rest of day:
Bearish.
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