BTCUSD: How to trade?
BTCUSD is currently trading around $61,200 and is expected to decline further.
Technical analysis shows that: With the long-term falling resistance line, the market is under strong selling pressure. Moreover, the convergence of the EMA and the resistance zone at $62,000 further indicates the possibility of further decline. If BTCUSD breaks below the strong support at $60,000, we could see a significant decline to the first profit-taking point predicted for sellers at around $57,500 to $54,000, as there is no solid support to reverse the previous trend.
What do you think, how will BTCUSD move in the coming time?
Technical analysis shows that: With the long-term falling resistance line, the market is under strong selling pressure. Moreover, the convergence of the EMA and the resistance zone at $62,000 further indicates the possibility of further decline. If BTCUSD breaks below the strong support at $60,000, we could see a significant decline to the first profit-taking point predicted for sellers at around $57,500 to $54,000, as there is no solid support to reverse the previous trend.
What do you think, how will BTCUSD move in the coming time?
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