Bitcoin Continues to Decline

Negative trading dominated the movements of Bitcoin as we expected touching our second awaited target located at 34,870, recording its lowest level at 33,967.

Intraday trading continues below the resistance level 34,590 and in general below 34,780, in addition to the negative pressure from the 50-day moving average.

It increases the probability of continuing to decline to visit 34,150 first targets, and it may extend towards 33,740. Trading above 34,780 will stop the bearish scenario and we will witness an upward slope targeting 34,990.

Note: The risk level is high and all scenarios are available.

S1: 34150	R1: 34780
S2: 33740	R2: 34995
S3: 33530	R3: 35410