Bitcoin has continued its decline against USD and is now attempting to shift trend on the daily timeframe as it is probing inside the Cloud. Bulls would like to see a close above the Cloud and 14085, which coincide with the Montlhy pivot point. Such a close would create a piercing line candle at the Weekly S1 at 13540 which could attract more buyers. Price action since christmas has been moving in an ascending range. If this channel holds, chances are we will see a return up towards the higher end of the channel. So even if price fails to close above the Cloud the channel may still add support, i.e if price close above it (and the Weekly S1). The white equilibrium line stands at 15425 and the Weekly pivot point. Until price close above this level, the pair will be under pressure from sellers.
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