More bearish signs appear
Morning folks,
So, the ping-pong action that we've discussed last time is under way, but, Friday's performance was dramatic and shows weakness. BTC was not able to proceed higher, forming huge reversal bar on daily chart and bearish grabber on weekly.
Although they coul have serious consequences, but for now we do not talk about breaking the tendency or something of this kind. Nearest support stands around 28K, so this should be frist target of potentially deeper retracement.
Still, as price still stands inside our range - let's get first the touch of the lower border. And then see what will happen. We do not consider any new long positions by far.
So, the ping-pong action that we've discussed last time is under way, but, Friday's performance was dramatic and shows weakness. BTC was not able to proceed higher, forming huge reversal bar on daily chart and bearish grabber on weekly.
Although they coul have serious consequences, but for now we do not talk about breaking the tendency or something of this kind. Nearest support stands around 28K, so this should be frist target of potentially deeper retracement.
Still, as price still stands inside our range - let's get first the touch of the lower border. And then see what will happen. We do not consider any new long positions by far.
ForexPeaceArmy BTC analytics :
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
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