BTCUSD - Bearish Round to 7800$
Updated
After BTC broke the downtrend and the center line of the descending channel, it can't broke the heavy resistance at 9062 level (50% Fibonacci) and rebounded from the downtrend (red).
It's target now is the center line of the descending channel which meets with the 100 MA, 200 MA at 7886 level.
If it bounce back from this level it will go again to the downtrend.
If it fail and broke the center line of the descending channel, its target will be the green line and the broken downtrend at 7200 - 7366 level.
It's target now is the center line of the descending channel which meets with the 100 MA, 200 MA at 7886 level.
If it bounce back from this level it will go again to the downtrend.
If it fail and broke the center line of the descending channel, its target will be the green line and the broken downtrend at 7200 - 7366 level.
Note
BTC broke the short uptrend and retest it and fails to close over the trend and the resistance at 8937 level, So the first target will be 8400 level.Order cancelled
The update is here:
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