BTCUSD another downtrend line
Updated
We can se another downtrend line now.
Price reached the daily MA200, found resistance and couldn't break it with upward movement.
Price could find resistance in the 7700-8160$ price zone, where we can find:
- 61.80% fibonacci level of the major bullish structure /grey one)
- the 50% fibonacci level of the latest bullish movement (red one)
- the previous downtrend line that can now act as a support.
the other fibonacci levels may act as support but the strongest zone is there.
Price reached the daily MA200, found resistance and couldn't break it with upward movement.
Price could find resistance in the 7700-8160$ price zone, where we can find:
- 61.80% fibonacci level of the major bullish structure /grey one)
- the 50% fibonacci level of the latest bullish movement (red one)
- the previous downtrend line that can now act as a support.
the other fibonacci levels may act as support but the strongest zone is there.
Note
Ichimoku indicator shows resistance in the same zone (blue line)
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