BTC –
Technical Observation
BTC is currently trading with an increasing bearish momentum. After a failed attempt to break above the daiy resistance line $9,471.50, BTC has been on a loosing mode. I expect BTC to plummet further and should break below the daily support line $8,736.70 towards $6,949.12 . On its way to the lowerside, the key lines to look for include $8,736.70, $8,185.90 and the next at $7,651.30. If these lines are breached then I’ll be eyeing a break below $6,943.17 to confirm a possible bearish rally towards $1,000.00.
Trade Signal;
Short BTC with your first take profit at $8,736.70 and the next at $6,949.17.
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