Hello guys, welcome to this BTC update.
The weekend went well but the beginning of the weekdays went wrong. All this was expected and you knew it if you followed my ideas.
Anyways, here's a quick analysis of what could happen next.
Recap: In our previous update, we discussed how important the current support level is and as it is still holding the support, we still have that one chance to bounce back.
Update: We expected and it happened. BTC is once again back to the same support level and this time it is under the descending triangle formation. Things are pretty clear here for both negative and positive impacts.
Positive Impact: If BTC can hold this support level then we can expect a bounce back soon. Maybe a quick drop towards the $17.6k level.
Negative Impact: If BTC breaks down and closes below the current support level then the descending triangle will play its part.
That's it from my end for now.
We will wait for now.
Do comment your ideas and analysis in the comment section.
Thank you for supporting.
The weekend went well but the beginning of the weekdays went wrong. All this was expected and you knew it if you followed my ideas.
Anyways, here's a quick analysis of what could happen next.
Recap: In our previous update, we discussed how important the current support level is and as it is still holding the support, we still have that one chance to bounce back.
Update: We expected and it happened. BTC is once again back to the same support level and this time it is under the descending triangle formation. Things are pretty clear here for both negative and positive impacts.
Positive Impact: If BTC can hold this support level then we can expect a bounce back soon. Maybe a quick drop towards the $17.6k level.
Negative Impact: If BTC breaks down and closes below the current support level then the descending triangle will play its part.
That's it from my end for now.
We will wait for now.
Do comment your ideas and analysis in the comment section.
Thank you for supporting.
So far the analysis is playing out as expected.