What's up my investor friends?
Yesterday we were analyzing BTC, where we found it breaking a flag pattern, going down to the $54000 support, where it bounced.
Today it has seen a lot of downward pressure, holding right at support (blue line) and above the 200-period moving average (yellow line) on the 4-hour time frame.
In case of a breakout, a drop to the $50,000 support is expected.
Personal opinion
Bitcoin is inoperable at the moment. We should wait for the price action. In case of a breakout to the downside, we could have a short trade with take profit in the area of $52000 and $50000.
I personally expect a downside breakout in bitcoin. It is the healthiest thing for the market. But in the end, the market does what it wants, colleagues hahaha.
Best regards colleagues! 👋
Important
The information provided in this publication should not be considered as an investment recommendation. Trading cryptocurrencies, forex, stocks, among others, is risky.