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Trade Idea- 26/7/2022 London

Trade Idea- 26/7/2022 London


BTCUSDT Daily Chart

Bitcoin did a fakeout to test the $24000 area but was pushed back down into the previous consolidation range by the 50 period moving average. As the underlying trend is bearish and the price is trading below the 50 MA, there is a higher possibility for the price to continue gliding lower. We are targeting a continuation and an eventual test of $16220. For the moment, $20000 remains the psychological price that investors refer to.

Technical LevelsPrice Zone

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