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BTC Short term

The price on the weekly chart is below the Ichimoku cloud. However it was showing some signs of bottoming out. It's too early to confirm it but the recent rally from the 15K level gives a little hope. By the end of last week ,the price started to lose steam. I expect it will continue to trend lower and retest recently formed support lines at 25 - 26 K. If the price breaks through this level, it will continue to go lower.

We may see a relief rally towards to 30 - 31K levels but I doubt price has enough strength to go higher.

The most important level to watch for next week is 25 K level. If it breaks , the price will go lower, towards 20K .

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Please note, we’re not offering any financial advice. It’s worth researching the topics of cryptocurrency, trading, and investing on your own or reaching out to professional advisors.

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