What's up my investor friends?
Yesterday we were analyzing BTC, where we found it breaking a flag pattern, going down to the $54000 support, where it bounced.
Today it has seen a lot of downward pressure, holding right at support (blue line) and above the 200-period moving average (yellow line) on the 4-hour time frame.
In case of a breakout, a drop to the $50,000 support is expected.
Personal opinion
Bitcoin is inoperable at the moment. We should wait for the price action. In case of a breakout to the downside, we could have a short trade with take profit in the area of $52000 and $50000.
I personally expect a downside breakout in bitcoin. It is the healthiest thing for the market. But in the end, the market does what it wants, colleagues hahaha.
Best regards colleagues! 馃憢
Important
The information provided in this publication should not be considered as an investment recommendation. Trading cryptocurrencies, forex, stocks, among others, is risky.