Last weekend, a lot pf people was watching in anticipation for the BTCUSD bulls to kick in. It has formed a higher low and a higher higher. Unfortunately, the bulls were not strong enough to push it further up. BTC was not able to bounce from the support level: 11,000-11,100.
BTC continues to decline. The next support level to watch is 9,400-9,500 level. This is support at 0.618 fib level.
If BTC fails to bounce from those levels, it may continue to go down to 9000-9100 around 10 days from today.
Notice also the RSI continues to decline but not yet below 30. Based on the historical charts btcusd, b it goes below 30 before it starts to become bullish again. MACD and SAR are all bearish.
Till these patterns reverse, BTCUSD continues to a bearish.
***** Invest only what you can afford to lose *****
BTC continues to decline. The next support level to watch is 9,400-9,500 level. This is support at 0.618 fib level.
If BTC fails to bounce from those levels, it may continue to go down to 9000-9100 around 10 days from today.
Notice also the RSI continues to decline but not yet below 30. Based on the historical charts btcusd, b it goes below 30 before it starts to become bullish again. MACD and SAR are all bearish.
Till these patterns reverse, BTCUSD continues to a bearish.
***** Invest only what you can afford to lose *****