Technical crypto analysis based on breakout – sell BTC now


Technical Observation

BTC is currently trading with an increasing bearish bias Momentum. yesterday, BTC pulled back slightly to the upper side but is still below the larger 152 Simple Moving Average. While the price is contained below this SMA, I expect a spike to the lowerside. With this short position, I expect a steep plunge towards $5,000.00 and should breakout lower. As it is on the daily chart, only a short position looks ideal, but should the price rise above the 152 SMA, then I’ll expect a momentum towards $8,183.80.

Trade Signal

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