BTC/USD Multiple Bearish Confluence

1 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Hi trader,

The BTC/USD is still bearish and we can spot multiple confluence points within the range. Trend lines, Middle BB line and candle patterns are there to remind us on the prevailing trend.

The BTC/USD could drop again if the POC zone is retested. 6085-6147 is the zone but also watch for a trend line break as shown on the chart. Targets are 5962 with a potential for a full swing at 5810. W L3 is a weekly support, so if the price gets there, we might see some short term buyers. Until then it could be a better option to sell on rallies and follow the trend.

Many green pips,
Nenad Kerkez aka Tarantula FX

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