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Hey guys,

In yesterday’s update, I quickly shared the latest Bitcoin continuation pattern that had formed.

You can see from the following extract, it was just another of my retests of previous support as resistance trades that I’ve gone over 100 times on this blog before:

Here’s the latest Bitcoin continuation zone I’m looking at:

BTC/USD Hourly

As were in a long term bearish trend, we look for intraday pullbacks into previous short term support turned resistance for shorts.

So before I get into the actual short setup, I just want to highlight the fact that we’re back at this major higher time frame support zone on the daily:

BTC/USD Daily

If this goes, then it’s a horrible sign for bulls. But just remember that while we’re above it, things are as they were when we were bullish a few weeks ago.

But the hourly doesn’t look too bullish does it:

BTC/USD Hourly

Just another retest of previous support as resistance, ticking lower and lower.

🤮.

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@forexbrokr | Steemit Blog

Market Analyst and Forex Broker.

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