BTC current support + potential re-test
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As you can see from the chart, we failed to break out from the downtrend from 64K.
Current short-term support is 42K as this is the 4th test in 1 month. A break down below 42K, could take us into Range X; which has its floor at 30K.
RSI is signaling further weakness as we break below the 50 level (drawn horizontally).
I want to note Bitcoin falling along-hand equity, means BTC cannot act as a safe haven; and should actually be considered a risk-on investment. As we notice Treasuries are the only thing up today.
Current short-term support is 42K as this is the 4th test in 1 month. A break down below 42K, could take us into Range X; which has its floor at 30K.
RSI is signaling further weakness as we break below the 50 level (drawn horizontally).
I want to note Bitcoin falling along-hand equity, means BTC cannot act as a safe haven; and should actually be considered a risk-on investment. As we notice Treasuries are the only thing up today.
Ghi chú
broke support drawn and is now testing it as a resistance level.
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