BTC, more downside to come ? 🤔
Hey traders, welcome!
currently the market has been range bound with little volatility.
However this may soon change with some news and macro economy data coming out.
BTC's recent upward momentom has came to a halt and we might see a further correction testing lower levels.
As you may agree sth like a H&S pattern is formed on daily with a target of roughly 23,300 $.
https://www.tradingview.com/x/Ld8x9tHq/
That level coincides with golden ratio of the previous upward leg and both a previous support and resistnace; thus, it can be a reasonable spot looking for buy opportunities if that level holds.
currently the market has been range bound with little volatility.
However this may soon change with some news and macro economy data coming out.
BTC's recent upward momentom has came to a halt and we might see a further correction testing lower levels.
As you may agree sth like a H&S pattern is formed on daily with a target of roughly 23,300 $.
https://www.tradingview.com/x/Ld8x9tHq/
That level coincides with golden ratio of the previous upward leg and both a previous support and resistnace; thus, it can be a reasonable spot looking for buy opportunities if that level holds.
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