BITCOIN HEADING BEARISH
Long-term outlook
BTCUSD is trading within a descending parallel channel.
Short-term outlook
BTCUSD is trading within a descending narrowing channel.
Main details
BTCUSD found a strong support at a lower bound of a long-term descending parallel channel near 24,840. In the short term, the pair may form a descending narrowing channel and test the key level at 25,850 before continuing to decline towards the previous low.
Possible outcome
Look for selling opportunities as long as BTCUSD is trading below 26,020
BTCUSD is trading within a descending parallel channel.
Short-term outlook
BTCUSD is trading within a descending narrowing channel.
Main details
BTCUSD found a strong support at a lower bound of a long-term descending parallel channel near 24,840. In the short term, the pair may form a descending narrowing channel and test the key level at 25,850 before continuing to decline towards the previous low.
Possible outcome
Look for selling opportunities as long as BTCUSD is trading below 26,020
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