BTC/USD TA Update (Early Sign of Weakness?)
BTC/USD
BTC suddenly dumps over 9% after filling up the gap on CME futures. But manages to bounce a little at 200MA and downward slopping trend-line support.
There is now a new strong resistance at 10.3k and it is BTC 1st Lower High after breaking to new Lower Low.
There still hope for Bitcoin in a shorter timeframe but will have to take a lot of work to be done. BTC needs to defend 9.6k-9.3k support and from there,
we may see a relief bounce to challenge the previous High at 10.3k. The priority now becomes slight bullish to neutral in the short-term.
BTC suddenly dumps over 9% after filling up the gap on CME futures. But manages to bounce a little at 200MA and downward slopping trend-line support.
There is now a new strong resistance at 10.3k and it is BTC 1st Lower High after breaking to new Lower Low.
There still hope for Bitcoin in a shorter timeframe but will have to take a lot of work to be done. BTC needs to defend 9.6k-9.3k support and from there,
we may see a relief bounce to challenge the previous High at 10.3k. The priority now becomes slight bullish to neutral in the short-term.
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