BTCUSD bear breakdown, 1HR HS, headed to long term support ~$850

Update from yesterday, we were squeezed higher to $1060 by the MM's and failed to reach the descending 4HR 100SMA. Nice HS pattern on the 1HR chart, if we break the neck line on increased selling volume expect a retrace back to the 0.618 fib of this bounce and rebound from the descending fib-fan level.

Ultimate target is a still a test of the long term rising support at around $850

Like this - check out my ETH analysis as well.

Kommentar:

Stopped out at 1035 - sitting out of BTC until direction is found