The momentum is indeed bearish even so, $1700 is strong support for the price and trying to hold on there and if the price lose this support, the next target will likely be around $1420.
On the positive side of view, If the Bitcoin current range lasts a little longer or rises, I expect at most a pullback to the recently broken ascending trendline around $2500. Of course, to do this, the price needs to break the short-term trend line (the orange one) and a potential reaction to the descending blue trendline is expected in the way.
In a word, the price will shape around $1400 finally. let’s wait and see!
Trend Key Points Indicator have been used to draw important key levels and key points.
On the positive side of view, If the Bitcoin current range lasts a little longer or rises, I expect at most a pullback to the recently broken ascending trendline around $2500. Of course, to do this, the price needs to break the short-term trend line (the orange one) and a potential reaction to the descending blue trendline is expected in the way.
In a word, the price will shape around $1400 finally. let’s wait and see!
Trend Key Points Indicator have been used to draw important key levels and key points.