HI traders ,
BTC tried to break 48K but rejected 2 times , also it has to fake breakout on 0.5 fib
now it is trading in dumping channel as you see in the chart and it use that channel mid trend line as a resistance and support
when it fails to break it out it fall to the main support line of the channel , also when break out it goes to the resistance line
now we are on the third attempt to break out and is see it will fail according to min. volume and two negative divergence on RSI and MACD indicators
so that it is going to 44K and if break down it will go to 0.618 fib
In one word BTC is Bearish till daily candle close above 48k otherwise we may see 42k or even 37k will be very healthy
BTC tried to break 48K but rejected 2 times , also it has to fake breakout on 0.5 fib
now it is trading in dumping channel as you see in the chart and it use that channel mid trend line as a resistance and support
when it fails to break it out it fall to the main support line of the channel , also when break out it goes to the resistance line
now we are on the third attempt to break out and is see it will fail according to min. volume and two negative divergence on RSI and MACD indicators
so that it is going to 44K and if break down it will go to 0.618 fib
In one word BTC is Bearish till daily candle close above 48k otherwise we may see 42k or even 37k will be very healthy
