Bitcoin might breakdown in Short Term. Stay Cautious!

As I have stated some major resistance levels for BTCUSD which are also supported by the volume in my previous analysis, Bitcoin seems to get rejections multiple times from the 50-51k level.

For now, Bitcoin is forming a descending triangle which usually breaks down. $49600 is a strong support breaking and retesting of which can make BTC bearish atleast for short-term. Support levels in short-term are marked. In what direction you think will Bitcoin play? Comment down.

For my detailed bitcoin analysis, check https://www.tradingview.com/chart/BTCUSDT/TooVG0iE-Detailed-Analysis-on-BTC-USD-Price-Action-My-Opinion/

Muneeb.

#SyedMuneebAli