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Welcome to this quick BTC update. In my previous BTC update i clearly told you that BTC is not break above 18.2k level and we might see a rejection from there and exactly the same happened.
So what's next?
As of now, BTC holding the green support area (16.5k-16.8k) and we might see a bearish retest from here. According to the chart, BTC should bounce from here up to 17.2k-17.3k level and after that again starts dumping.
So as of now I'm expecting a relief bounce in shorter time frame. In HTF, BTC still looks bad. Until and unless we did not get a weekly close above 18.5k thing not going good for us.
Let's see how things goes in the next few hours.
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