Based on 60 mins chart BTC/USD
Outlook for Bitcoin is bearish.
It may bounce off of Support 1 and retest Resistance 1. If fails to breakout Resitance 1, then it will very likely dip down to 1666 (Support 2)
If you are familiar with Elliot Wave (Correction ABCDE, Resistant 1 is also where the "E" will be).
In addition, RSI and MACD are both downward, bearish trend.
Disclaimer: This article is solely for educational purposes only, it does not by any mean constitute investment advice of any sort.
@progidydefender thanks for sharing your insights bud! Will be following for more :-)
No prob. I am hoping it will play out as I analysed as I am in for buying the dip.