#BTCUSDT Correction over or was it just a trap?

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Now, let’s get to the chart.
BTC got rejected for the 4th time from the micro resistance channel alonwith the red MA.
Although it didn't break the resistance, the support is still intact.
We can expect a bounce anywhere from the $37.2k to $38.8k range which happens to be the lower support trendline support of the green channel.
So for the time being we can expect a little more downside here. As per the previous chart, the $38k level is an important zone for BTC. It also happens to be the second pivot zone.
BTC needs to get above that blue MA to rally for the fifth time all the way to the green channel resistance.
Break below $37.2k will take us to the $34k-435.5k range which is the legacy trendline support.


Invalidation:- Close below the legacy trendline support.


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Giao dịch đang hoạt động:

No bullish divergence in lower time frame charts yet.
Expecting a little bit of downside followed by a bounce by the weekly close.