BTC1! continuation of downward trend
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This is the Monday weekly review of BTC1! CME chart. We can see that no gaps were formed over the weekend and that price was rejected by the previous gap. Price is downtrending within the downward channel. The measure move of the previous ascending channel breakdown is 37.5k. There is an open gap at 34.5K that acts as an attractor.
I guessed a path downward. This is just a guess based on supports and resistances. Price action might and usually go all over the place before reaching a target, or it might just nuke straight down.
I guessed a path downward. This is just a guess based on supports and resistances. Price action might and usually go all over the place before reaching a target, or it might just nuke straight down.
Note
demand zone was reached
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