Quick Follow Up For BTCUSD

٢٧ يناير ٢٠٢١

Currently trading below all major SMAs (50, 100, and 200). If we break and hold below 30k which has a major support zone, I would expect to see further correction down towards my bearish target. If, however on the other hand the 30k level decides to hold as support, another retest of the descending resistance trendline should be warranted.

-------------------

Please don't forget to FOLLOW, LIKE, and COMMENT ...
If you like my analysis:)

Trade Safe - Trade Well

Regards,
Michael Harding 😎 Chief Technical Strategist @ LEFTURN Inc.

RISK DISCLAIMER
Information and opinions contained with this post are for educational purposes and do not constitute trading recommendations. Trading Forex on margin carries a high level of risk and may not be suitable for all investors. Before deciding to invest in Forex you should consider your knowledge, investment objectives, and your risk appetite. Only trade/invest with funds you can afford to lose.