Bitcoin just slipped and hunted us on the shorts.

Bitcoin overall is still bearish and the market is still going to turn down towards the lower lows. From the price of 26650, the market has to continue moving down till the support level of 25800. The market is in a major down trend with the formation of lower lows and lower highs. We will continue looking at sells till the market tests the support level. We are targeting another bearish markup downwards. It seems, market is making a bullish trap for the buyers as the support has become really weak and can be broken out with any jerk of the bearish move. We are looking to sell again at the price of 26300. This is a perfect breakout and retest from the resistance. 

The ascending trendline has broken out and the market has already validated the price action.

There is no retracement on this pair at this moment.

EMA 50 is bearish and just pierced the price action. 

The RSI is at 41 and it needs to be neutralized at the 50 level. 

Bitcoin another drop down

Sep 23 2023