Hello guys today i'm gonna analysis BTC/USDT pair with daily time frame.
1) We can see price have some consolidation area around this range (33K - 41K).
2) Price also formed Bearish Rectangle and now testing previous Support level (33K) and if we lose support we can go down 22K.
3) I also look out EMA (50 Day And 200 Day) and if 50 Day EMA cross 200 Day EMA, its mean we have Dead Cross and we can expect big correction to the down side, and it's already happened.
1) We can see price have some consolidation area around this range (33K - 41K).
2) Price also formed Bearish Rectangle and now testing previous Support level (33K) and if we lose support we can go down 22K.
3) I also look out EMA (50 Day And 200 Day) and if 50 Day EMA cross 200 Day EMA, its mean we have Dead Cross and we can expect big correction to the down side, and it's already happened.
Note
Dead Cross already happened, big correction on the wayNote
Guys Drop Coming Be CarefulNote
BreakDown and Candle is closed beyond Bearish Rectangle.This is a confirmation for DownTrend Target 22K...Be Ready
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.