Bitcoin: Possible Pullback to 17 600$ Support

Bitcoin: Possible Pullback to 17 600$ Support

BTCUSD Perpetual Contract BYBIT:BTCUSD


Don’t you think that Bitcoin is going to move down? The price broke the local uptrend line and SMA50. After that, the price tried to reach 19 000$ again and failed. It gave us a signal that the market would move sideways. But now we have another bearish signal. The price broke the local uptrend line. MACD and RSI are bearish and support a downward movement.

The 1st target for the bears is the support zone between SMa200 and 17 600$. If the price bounces from this support, we will probably see a new attempt to break 19 000$ and update ATH .
The breakout below the support will push the price toward 16 000$.

This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Source: TW DLavrov

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