BTCUSD About to head down?


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BTCUSD has dropped down a bit more and currently trades around the 45,100 level. Strong support is around the 42,000 level. I expect this to break in the nearest future and see BTCUSD head down to around the 32,000 level. I would not blindly enter a short trade at the current level, though. With a move back to around the 48,000 level would be a good possible level to look for a short trade, in my opinion.

Trade Opportunities: Possible long trades around the 42,000 but pay close attention to volume, as if this breaks, we are likely to see quite the drop.

Short around the 48,000 level, with a stop above 50,000.

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