Upside action looks weak
Morning folks,
BTC has shown a bit curious action in recent few days. The upward bounce that has become the surprise for us - has been reversed fast and price returns back to its own. The result of this action is bearish reversal session on daily chart.
1H chart shows very choppy bounce that cares no signs of thrust. It means that this is not the reversal. Now market stands at solid intraday resistance area. We suggest that downside continuation in current circumstances looks more probable and we still could keep an eye on 37K trend line support on daily chart.
Bullish scenarios could return back on the table as soon as market forms some clear reversal pattern.
BTC has shown a bit curious action in recent few days. The upward bounce that has become the surprise for us - has been reversed fast and price returns back to its own. The result of this action is bearish reversal session on daily chart.
1H chart shows very choppy bounce that cares no signs of thrust. It means that this is not the reversal. Now market stands at solid intraday resistance area. We suggest that downside continuation in current circumstances looks more probable and we still could keep an eye on 37K trend line support on daily chart.
Bullish scenarios could return back on the table as soon as market forms some clear reversal pattern.
ForexPeaceArmy BTC analytics :
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
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