Bitcoin CME Futures
Bitcoin is quite looking bearish after breaking the upward trend-line of support at 8100 levels.
We know that there is not enough support build during its uptrend from 7700 regions to 8500.
And for that, the price could easily drop back to 0.5 - 0.618 levels to immediately filling the gap
from the old resistance to potentially change it to new support if Bitcoin bounces from that level and hold it for a couple of days.
Take note also of the multiple selling volume after it crashes below trend-line support.
This is only telling us the downward pressure is strong, and if you are in a Long position. Be cautious about these warning signals.
Bitcoin is quite looking bearish after breaking the upward trend-line of support at 8100 levels.
We know that there is not enough support build during its uptrend from 7700 regions to 8500.
And for that, the price could easily drop back to 0.5 - 0.618 levels to immediately filling the gap
from the old resistance to potentially change it to new support if Bitcoin bounces from that level and hold it for a couple of days.
Take note also of the multiple selling volume after it crashes below trend-line support.
This is only telling us the downward pressure is strong, and if you are in a Long position. Be cautious about these warning signals.
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