BTCUSDT ! Resistance Retest. Breakout or false breakout?😼

17. Juli 2022

BITCOIN is trading in the range between 22000 to 18800. It is worth noting a number of facts: a downtrend, a price stop after a fall and consolidation - no growth (price pullbacks), a strong downward channel and a gradual update of local lows - these are all reasons that indicate a further fall market.

I don't see much room for growth.

On the chart, we see that the price has been trading in a range for a long time and the price is clearly working out its boundaries. At the moment, we see countertrend growth, but for now, there is nothing to say about the price growth above 23000.

I assume that the price can test the resistance of 22000 or 23000 (liquidity zone) with a false breakout and continue its fall along the trend. On the chart, such targets as the strong liquidity zone of support at 16188 and the global support level at 12400 remain relevant.

Sincerely, R. Linda!