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The price of bitcoin (BTCUSD) is showing a downtrend in a secondary descending channel that appears on the chart above, which we believe is forming a continued bull flag pattern, meaning a breakout of resistance 43830.00 will activate the positive effect of this pattern and then push the price to resume the main uptrend, remembering that our next target reaches 45030.00.
Therefore, we will continue to favor the uptrend for the coming period, paying attention that a break of 43000.00 stops the expected rise and weighs on the price to move lower in the short term.
The forecasted trading range for this day is between support 43000.00 and resistance 44200.00.
#binary #bitcoinminning #forexlifestylet#investing#binaryoptions#bitcoincash#crypto#cryptotrading
The price of bitcoin (BTCUSD) is showing a downtrend in a secondary descending channel that appears on the chart above, which we believe is forming a continued bull flag pattern, meaning a breakout of resistance 43830.00 will activate the positive effect of this pattern and then push the price to resume the main uptrend, remembering that our next target reaches 45030.00.
Therefore, we will continue to favor the uptrend for the coming period, paying attention that a break of 43000.00 stops the expected rise and weighs on the price to move lower in the short term.
The forecasted trading range for this day is between support 43000.00 and resistance 44200.00.
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