BTCUSDT ! Resistance Test. Falling in a downtrend? 🥵

9 Jul 2022

BTCUSDT is trading in a downward channel and is pulling the entire cryptocurrency market down following its downtrend. We see that the instrument is trading in a fairly narrow range, which indicates that a large player is accumulating energy for further movement.

There are no upward pullbacks on the chart, which indicates a lack of potential (in all senses), the price is testing resistance, a tight limit zone does not let the price go higher.

My guess is that as Bitcoin falsely breaks range resistance on a downtrend, there is great downside potential. I think that in the short term, Bitcoin can reach the level of 16188, and in the medium term - the liquidity zone of 12400.

Sincerely, R. Linda!

10 Jul 2022

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