Bitcoin May See a Downward Trend

Bitcoin touched the first required target during the previous analysis at 38,190 and approached the second target of 38,760, recording its highest price of 38,680.

Today, we tend to be negative on short time frames, relying on Bitcoin getting negative pressure from the 50-day moving average in addition to the clear negative signs on Stochastic.

Consequently, we may witness a bearish tendency during the coming hours, targeting 36,140, and then 35,920. Crossing above the resistance level of 37,290 leads Bitcoin to a strong bullish path targeting 38,420.

S1: 35920	R1: 38420
S2: 34790	R2: 39810
S3: 33410	R3: 40925