BITCOIN - Price can break support level and continue to fall

[skrimon]

​

Hi guys, this is my overview for BTCUSDT, feel free to check it and write your feedback in comments

Recently price broke $27900 level and fell to support area, but soon it made strong upward impulse.

Also, BTC entered to pennant, where price broke $28900 level and reached resistance line.

Then price made correction and after bouncing up, exited from pennant, and started to decline.

Price declined below $27900 level and entered to rising channel, but when BTC rose higher of $28900 level, it bounced down.

And price continued to decline, thereby breaking $27900 level, and firstly fell to support area.

Later Bitcoin fell lower of this area and next support level, but at once bounced up.

Now price trades near support level and maybe BTC can break this level, and continue to fall to $26070

If this post is useful to you, you can support me with like/boost and advice in comments

 

[FXCHOCH]

Hi, i think we will see 27K at the short term. We need more liq. for new high.

 

[O_777]

Nice overview and well presented thanks for the analysis