Possible downside for BTCUSD

4 gen 2021

The final analysis for yesterday did not play out as I was hoping. While we are still in the ascending channel, I think we may start to see further downside for now. Possible target around the 27K mark. See the levels below. Note that we may continue to the upside in the channel, but my current bias is to the downside. A hard bounce on the lower ascending trendline may change my perspective on this. A break of the lower ascending trendline will confirm my bias to the downside. My 1st target for a short trade is around the 27K mark. Note that we have seen quite a move to the upside on Alts overnight and ETH is currently just around the 1K mark.