The king(BTC) needs to breathe (BTCUSDT)
The price has been able to break the moving average of 20 and 50 days in a candle as well as the uptrend line.The divergence in the MACD indicator also confirms the downside scenario.
So our mid-term trend is bearish.
Supports that can prevent the price from falling are 51,000 (static resistance and Fibonacci level), 48,790 (MA 200 Daily), 46850 (50 Fibonacci level), 43,900 (EMA 21 Weeks) and 42,600 (static resistance and 61.8 Fibonacci level), respectively.
Among these levels, the EMA 21 Weeks is the most likely option to return the price, because in the 2017 Bullish market, it has been able to save the price from further fall.
So our mid-term trend is bearish.
Supports that can prevent the price from falling are 51,000 (static resistance and Fibonacci level), 48,790 (MA 200 Daily), 46850 (50 Fibonacci level), 43,900 (EMA 21 Weeks) and 42,600 (static resistance and 61.8 Fibonacci level), respectively.
Among these levels, the EMA 21 Weeks is the most likely option to return the price, because in the 2017 Bullish market, it has been able to save the price from further fall.
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