BTC Update
Trend: Bearish
BTC is continuing its downward movement in the M5 timeframe and is currently testing the supply zone at 63,000. If the price breaks this resistance, there might be a chance to kick off a technical bounce.
Main Scenario:
- Break above 63,000: Could initiate a short-term rally.
- Supply holds the price: High likelihood BTC will get pushed down hard to 61,000.
- Losing the recent low: The bearish trend will continue stronger.
Current Perspective:
The main trend remains bearish, so this isn't a safe zone to long. The priority is still to wait for a clear reaction at the supply zone; if rejected, the likelihood of further decline is still higher.
#CreatorpadVN
Trend: Bearish
BTC is continuing its downward movement in the M5 timeframe and is currently testing the supply zone at 63,000. If the price breaks this resistance, there might be a chance to kick off a technical bounce.
Main Scenario:
- Break above 63,000: Could initiate a short-term rally.
- Supply holds the price: High likelihood BTC will get pushed down hard to 61,000.
- Losing the recent low: The bearish trend will continue stronger.
Current Perspective:
The main trend remains bearish, so this isn't a safe zone to long. The priority is still to wait for a clear reaction at the supply zone; if rejected, the likelihood of further decline is still higher.
#CreatorpadVN