Two views on the current Bitcoin price action

Two views on the current Bitcoin price action

BTC/USD technical analysis

Bitcoin Update:

  • Crypto bears in control.
  • Slipped back below the technical break out of resistance
  • Dragging alts down with them.

Here are a couple of views that will hopefully help in your decision making process if you’re trading BTC/USD.

1. That this is a retest of the previously broken resistance level, this time as support:

2. That the intraday momentum is so strong, that this is going to keep dropping out of this zone:

I will always say to wait for a confirmation that the higher time frame support zone has held and with the bearish momentum as it is on the hourly, we certainly don’t have that.

Just trade what you see.

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