Bitcoin is now at a supercritical support level (see the red circle).
Breaking downward, will lead us to a down trend and a decrease of about 5%.
Trade safe!
Breaking downward, will lead us to a down trend and a decrease of about 5%.
Trade safe!
So it took a bit longer than we thought but (unfortunately) we were tight.
Bitcoin dropped to the first support, closed the 4H candle there and immediately dropped to the second support line and bounced a bit.
What now?
Bitcoin will once again try to fall below $42,200 during the next 24 hours.
In case it will, we will likely see a fast drop to $ 40,000, hopefully, it will be the lowest rate in the near future.
Follow the buying and selling pressure with the volume indicator, it'll give you a great indication about the possible upcoming movement.