BTC/USD Technical Analysis: The main support is still holding
|- After breaking 8K to the downside the main support of 7,296.44 is still holding.
- Today cryptocurrency sentiment is still soft with BTC/USD trading 6% lower.
BTC/USD Daily Chart
Now the BTC/USD chart is still looking weak with lower highs and lower lows.
But the trend will be confirmed on the downside when 7,296.44 breaks lower.
There is also a channel forming which is represented by the blue lines.
What is interesting about the recent price drop is that the two prior candles were not overly bearish.
Momentum looked like it was slowing on the downside but all of a sudden in the EU session the support levels broke.
The support of 7,296.44 was used a few times between May and June 2019 and bulls are hoping it holds this time round too.
Additional Levels
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