Summary
BTCUSD still indicate bear trend and the TA does not provide any signs of reversal. I just wanted to post a Mid-day update of BTCUSD and the signs suggest we may go down further to the levels of $7500 USD which could likely be the bottom, post which we may see a rally. However, this is still indicative and not conclusive that the bottom would be reached at the suggested price of $7500.
I am still of the opinion that there is a high likelihood that we might see a trend reversal and the below chart indicates a plausible scenario. If there be any probability of the price falling below $7500 we are looking at further lower lows maybe even down to $3K levels. Nevertheless, at the present stage I hope that the prices are contained and we may see a reversal.
What are your thoughts? Comment down below. I would like to hear what you guys have to say.
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