#BTC/USD Sideways action Is it Bullish or Bearish? Breakdown Inc

15 мая 2020 г.

Welcome to this quick update guys.
BTC/USD seems like it is forming a Bullish Flag in smaller TF.
Last update has been very accurate and I hope you made some profits if you followed.

In this chart you can see the Price retested the 200D MA as per my last update and bounced from there.Important Support levels:

1. 50D MA: $9428
2. 85D EMA : 9278
3. 200D MA : 9258
The dotted line shows the potential expanding CHANNEL in formation.

I am expecting the price to follow the arrow as shown in the chart.

$9980 to $10185 is important Resistance area.
Any break above these levels will take price to 10700 level which seems unlikely at the moment. Until then I am bearish.

IMPORTANT NOTE (WARNING):

As of now most of the traders are posting bullish charts besides weekly candle got rejected from the global trendline Resistance. Guys I think a brutal breakdown is likely if we don't break the 10700 level soon.
So what should we do? I will be tethering the 9980 to 10200 level I I get the chance.
In case the price breaks above the 10700 mark I'll buy back in but IF the price goes to lower levels like $7800 $7400 or even $6800 I will have the opportunity to buy lower.
What do. you think?
Is it a good idea?
Please share your views and comments.
Follow me for more future updates and give it a thumbs up if you like this.