BTC/USD remains under pressure

BTC/USD remains under pressure

Trade idea

SELL at 3625; TP 3465; SL 3700

BTC/USD didn’t move much during the last week. However, on D1, Bitcoin was clearly rejected down by the 50-day MA (3777.96) at the end of the week.

BTCUSDDaily.png

A bearish flag implies the upcoming decline to 3463 (78.6% Fibo retracement of the December advance). The next support — and a very important one — is at 3250 (December lows, 200-week MA).  

BTC.png

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