Well, safe to say no one was really expecting what happened yesterday. We fell with BTC as usual, but it could have been worse. Currently short term we are closing in on a pennant. The stoch RSI is suggesting a bounce off the resistance, in which could possibly mean another test of our short term support (178).
Unless more FUD comes out in the next few hours, I believe we will bounce off the support and go for a third retest of $187.40. This will be critical if we want to get out of this area. If we can get past that, then $193.50 will be our next point to pass. That will reverse our huge downfall from $193 to $176 yesterday. I do expect some resistance at $187.40, so you can expect a bounce off it. If that is the case, then it is possible we continue moving sideways during the day.
I will continue to watch this and will update it if any key support/resistance is broken. Check out my previous day TA's in the related ideas section and please like/follow if you would like to stay up to date with my daily TA's.
Unless more FUD comes out in the next few hours, I believe we will bounce off the support and go for a third retest of $187.40. This will be critical if we want to get out of this area. If we can get past that, then $193.50 will be our next point to pass. That will reverse our huge downfall from $193 to $176 yesterday. I do expect some resistance at $187.40, so you can expect a bounce off it. If that is the case, then it is possible we continue moving sideways during the day.
I will continue to watch this and will update it if any key support/resistance is broken. Check out my previous day TA's in the related ideas section and please like/follow if you would like to stay up to date with my daily TA's.
