Technical crypto analysis based on breakout – Only short BTC below $6,590.47

BTC –

Only short BTC below $6,590.47

Technical Observation

BTC is currently trading with an increasing bearish momentum. The past three week’s have seen BTC loose almost 87% the value it gained the previous week. This is no good news for BTC buyers and if the value of 1 BTC could plunge below the weekly support line $6,590.82, then I’ll expect more sellers to intrude this market. However, I don’t advice selling BTC now, rather, I recommend waiting for a break below $6,590.62 to confirm further bearish rally towards $4,026.90 or even lower to $1,479.65.

Trade Signal.

Short BTC below $6,590.47 towards $3,179.15.

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