BTCUSD - Intraday - We look to Sell a break of 52784 (stop at 54016)
Price action is forming a bearish flag which has a bias to break to the downside.
We look for losses to be extended today.
Short term indicators have turned negative.
A break of 53000 is needed to confirm follow through negative momentum.
A higher correction is expected.
Although we remain bullish overall, a correction is possible with plenty of room to move lower without impacting the trend higher.
Broken out of the triangle formation to the downside.
Our profit targets will be 49564 and 48142
Resistance: 56000 / 56800 / 58000
Support: 55000 / 53200 / 52000
Price action is forming a bearish flag which has a bias to break to the downside.
We look for losses to be extended today.
Short term indicators have turned negative.
A break of 53000 is needed to confirm follow through negative momentum.
A higher correction is expected.
Although we remain bullish overall, a correction is possible with plenty of room to move lower without impacting the trend higher.
Broken out of the triangle formation to the downside.
Our profit targets will be 49564 and 48142
Resistance: 56000 / 56800 / 58000
Support: 55000 / 53200 / 52000
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