BTCUSDT: Outlook is negative!
Hello dear traders!
On almost every timeframe, the outlook for BTC remains relatively negative. This is clearly determined from 3 factors:
1: The bearish regression trend remains intact and the $74,000 level remains a challenge for sellers.
2: Two peaks have subsequently formed, which has further caused bearish momentum for the coin.
3: From the short-term uptrend channel, support holding the price was broken at $59,000, identified by BTC weakening below $64,000. At the time of writing, the price had reached $56,411, highlighting a 0.39% drop on the day.
Therefore, for now we recommend that you still prioritize your selling strategy and target at least 50,000. Because at this point, the price still seems to be strengthening, ready to take further distribution, to take a big hit.
If you are a long-term trader, open a short position (A).
On the contrary, as a solid trader, I recommend waiting for the price to test the $59,000 (B) level before opening a position.
Good luck!
source https://www.tradingview.com/chart/BTCUSDT/yctzliD3-BTCUSDT-Outlook-is-negative/
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