Hello traders.
BTC wasn't supported well by 17250 support and sharply broke bottom of the rising channel,downside in 4h time frame.
This is a sign of BEARISH market.
There are some possible price movements:
1-Price continue to fall in a powerful way.
2-Price fall down to the SUPPORT area shown in the pic.Then a pullback to somewhere about bottom of the channel and then,continue it's bearish way to the TARGET1 and TARGET2 shown in the pic.(RECOMENDED)
3-Price get back to it's previous cycle or range where it is.
I recommend second scenario due to it's higher probability and safer situation.
Have a nice day!
BTC wasn't supported well by 17250 support and sharply broke bottom of the rising channel,downside in 4h time frame.
This is a sign of BEARISH market.
There are some possible price movements:
1-Price continue to fall in a powerful way.
2-Price fall down to the SUPPORT area shown in the pic.Then a pullback to somewhere about bottom of the channel and then,continue it's bearish way to the TARGET1 and TARGET2 shown in the pic.(RECOMENDED)
3-Price get back to it's previous cycle or range where it is.
I recommend second scenario due to it's higher probability and safer situation.
Have a nice day!