Forex Signal For BTC/USD: Bearish Pennant Indicates More Weakness
Forex Signal For BTC/USD: Bearish Pennant Indicates More Weakness
There is a strong possibility that the Bitcoin price will drop further in the near term.
Bear Market Outlook
- Set a sell-stop at 41,500 and a take profit at 40,000.
- Add a stop-loss at 42,500.
- Timetable: 1-2 days.
Forex Signal For BTC/USD: Bearish Pennant Indicates More Weakness
Bull Market Outlook
- Set a buy-stop at 43,500 and a take profit at 45,000.
- Add a stop-loss at 42,000.
As traders await the next catalyst for the cryptocurrency, the
BTC/USD pair remains under pressure, trading at 42,545, a few points below tonight's high of 44,378. This price is also about 20% below this month's high.
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