RLinda ! BTCUSDT-> Big sales, support test. What's next?
BTCUSDT breaks the 19830 limit zone and forms a strong bearish momentum within the bearish price channel and thus tests the 18626 support level and channel support. We see price making a false breakout and starting to form a pullback
Since we have a strong bearish trend, I think that the momentum might not be over and if the price stops and goes back to retest 18626 support, breaks through the support and consolidates under it, there is a chance that it will continue going down to 17622.
But we have a false-break of the price channel, and the price reacted strongly to that support trendline, so chances are high for the price to retrace to the resistance at 19830.
I assume that the fall will continue, but we have to wait to see what the price will show. If the price starts to test 18626, then we look for an entry point near this level. If the price continues to form a pullback, then we look for resistance 19830.
Regards R. Linda!
Since we have a strong bearish trend, I think that the momentum might not be over and if the price stops and goes back to retest 18626 support, breaks through the support and consolidates under it, there is a chance that it will continue going down to 17622.
But we have a false-break of the price channel, and the price reacted strongly to that support trendline, so chances are high for the price to retrace to the resistance at 19830.
I assume that the fall will continue, but we have to wait to see what the price will show. If the price starts to test 18626, then we look for an entry point near this level. If the price continues to form a pullback, then we look for resistance 19830.
Regards R. Linda!
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