BTC/USD Analysis: A welcome recovery....but still only a correction [Video]

BTCUSD

The market remains remains confined to an intense downtrend following a recent break below major triangle support. Look for rallies to be well capped with risk for deeper setbacks into the $2,000 to $3,000 area. At this stage, it will take a break back above $6,000 to take the pressure off the downside.  

In this analysis, we take a look at Bitcoin each day, highlighting all of the need to knows for anyone looking to extract up to date information about major levels and relevant trends, both short term and longer-term. The analysis is designed for the trader, investor and even those simply holding the crypto asset, looking for an idea of where they may want to consider making that next conversion.

The cryptocurrency update is new each day and is presented with an added layer of animation, in an effort to make the analysis as engaging as possible, while also communicating the message with respect to key trends and levels in an easy to understand, seamless manner with great value add to all.