BTC Outlook Update:
The big coin has taken a dip this round, with the upper region showing a classic fake breakout structure. I've mentioned the conditions for this structure multiple times in previous live streams, along with its price action! Once we broke below the horizontal support, the uptrend came to an end, leading to a pullback or a new downtrend (as I've pointed out in my daily updates)!
Currently, we're down nearly 21500, hitting support near the lows of the previous downtrend, resulting in some choppy consolidation. As it stands, this isn't a particularly strong consolidation, indicating that the market is still quite risky!
Keep an eye on the key resistance and support reactions! For resistance, watch 66415 in the short term, while for support, keep an eye on the low at 61344!
The big coin has taken a dip this round, with the upper region showing a classic fake breakout structure. I've mentioned the conditions for this structure multiple times in previous live streams, along with its price action! Once we broke below the horizontal support, the uptrend came to an end, leading to a pullback or a new downtrend (as I've pointed out in my daily updates)!
Currently, we're down nearly 21500, hitting support near the lows of the previous downtrend, resulting in some choppy consolidation. As it stands, this isn't a particularly strong consolidation, indicating that the market is still quite risky!
Keep an eye on the key resistance and support reactions! For resistance, watch 66415 in the short term, while for support, keep an eye on the low at 61344!