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BTC: Breakdown soon
Hate to be the shorting at support" meme but BTC looks pretty weak here on the daily chart. Last week BTC could not break through the purple resistance box, and it currently serves as resistance.
The other purple lines above the purple block are other areas of resistance.
Currently, weak support in the blue box area, and I think it is likely that we see a new yearly low with a breakdown of this box. The orange line is my thoughts on where the price may travel, but I think there is also a good change we range between the purple and blue boxes for a little while.
Bearish until there is a great shift in momentum
The other purple lines above the purple block are other areas of resistance.
Currently, weak support in the blue box area, and I think it is likely that we see a new yearly low with a breakdown of this box. The orange line is my thoughts on where the price may travel, but I think there is also a good change we range between the purple and blue boxes for a little while.
Bearish until there is a great shift in momentum
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