Potential downside reversal

16 thg 2, 2023

Morning folks,

Once we've wondered what could push BTC to 25K area - answer has come suddenly. Without intruding of external factor - overall background as technical as fundamental has not suggested and still doesn't suggest upside rally. So we treat this performance as not reliable.

With strong daily resistance around 26-27K area and current overbought on daily chart, we consider potential downside reversal now, starting from 26K area and consider no long positions.