Bitcoin testing a key support level


BITCOIN Daily chart.


After a strong rejection from the disputed area (red horizontal channel), Bitcoin price came down and currently is testing as support the bottom of the rising wedge.

We can expect a small bounce from here, probably one more test as the resistance of the red horizontal chanell in the 27330-27560 area.


If Bitcoin price loses this diagonal of support, we can expect a dump into the 24394 area, liquidity zonen, and a possible continuation down into the green horizontal channel of support (21311-22428)


A possible trade here could be a LONG scalp with TP at 27330 and SL at 24730. Probably will take a few days to play out.


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