BTC/USD TA Update (Bearish Pattern?)
BTC/USD
Bitcoin is quite looking a bit exhausted on its uptrend and currently painting a bearish ascending channel.
If BTC fails to hold 8600 regions, I'm eyeing the next support at 8400-8300 but this area of support is not good enough in case of a major drop.
The next Key support is between 8200 - 8000 levels which have higher chances of a bounce from this area.
We know Bitcoin has to cool down at some point to build a next Higher Low on the Daily time-frame.
Please don't use over leverage and keep your stop-loss accurately.
Bitcoin is quite looking a bit exhausted on its uptrend and currently painting a bearish ascending channel.
If BTC fails to hold 8600 regions, I'm eyeing the next support at 8400-8300 but this area of support is not good enough in case of a major drop.
The next Key support is between 8200 - 8000 levels which have higher chances of a bounce from this area.
We know Bitcoin has to cool down at some point to build a next Higher Low on the Daily time-frame.
Please don't use over leverage and keep your stop-loss accurately.
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