BTC/USD Technical analysis

Note: This section contains information in English only.
Source: Dukascopy Bank SA
BTC/USD is in a clear short-term bearish trend, defined by a descending trendline that has been acting as strong resistance. Recent price action shows a rejection from this trendline, and the price has also fallen below the 60-period Simple Moving Average, which is now acting as dynamic resistance. Further confirming the bearish momentum, the MACD indicator has just shown a bearish crossover, with the MACD line blue crossing below the signal line green and the histogram turning negative. The most critical level to watch is the major support at 100,000.00, which has held twice recently.



Given the technical setup, the path of least resistance appears to be a retest of this 100,000.00 support. A break below it would signal a strong continuation of the downtrend.
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