BTC/USD 1D chart
We continue to be held in a downtrend channel that we could draw also as a bull flag - a bullish formation.
40.700$ continues to work as a strong (historical) support. Therefore any entries in that range could present a great longing position. If we consider breaking the channel that is keeping us down we can expect some upward fireworks.
Worst case scenario is down to 30.000$, but at the moment I don't see it quite likely to happen.
Note, FUD coming from China, use to be something normal in 2017 since china was banning crypto almost on weekly basis, but coins still managed to rise higher and higher.
We continue to be held in a downtrend channel that we could draw also as a bull flag - a bullish formation.
40.700$ continues to work as a strong (historical) support. Therefore any entries in that range could present a great longing position. If we consider breaking the channel that is keeping us down we can expect some upward fireworks.
Worst case scenario is down to 30.000$, but at the moment I don't see it quite likely to happen.
Note, FUD coming from China, use to be something normal in 2017 since china was banning crypto almost on weekly basis, but coins still managed to rise higher and higher.