BTC Sell the downtrend.
Bitcoin - Intraday - We look to Sell at 48458 (stop at 49144)
Trend line resistance is located at 48400.
We look for a temporary move higher.
Preferred trade is to sell into rallies.
Although the bulls are in control, the stalling positive momentum indicates a possible turnaround is possible.
Trades with a bearish descending triangle formation.
Our profit targets will be 46404 and 45804
Resistance: 48200 / 48800 / 49200
Support: 47500 / 46800 / 46200
Trend line resistance is located at 48400.
We look for a temporary move higher.
Preferred trade is to sell into rallies.
Although the bulls are in control, the stalling positive momentum indicates a possible turnaround is possible.
Trades with a bearish descending triangle formation.
Our profit targets will be 46404 and 45804
Resistance: 48200 / 48800 / 49200
Support: 47500 / 46800 / 46200
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