BTC/USD Technical Analysis: Weekly Chart

In the weekly charts, BTCUSD is trading in a down channel. BTCUSD is currently trading below all SMA.

RSI is in the selling zone which indicates bearishness. MACD is currently below zero which indicates bearishness.

Its immediate support is 17500.00 the resistance level is at 19600.00

BTCUSD will trade in a down channel until there is a trend reversal. 

BTC/USD Technical Analysis: Daily Chart

In the daily charts, BTCUSD was trading in a down channel. BTCUSD is currently trading below all SMA.

RSI is in the selling zone which indicates bearishness. MACD is currently below zero which indicates bearishness.

Its immediate support is 18100.00 the resistance level is at 18800.00

BTCUSD was traded in a down channel before there is an upside breakout.   

How to Trade BTC/USD this Week:

BTCUSD will follow the downtrend until its trend reversal. So, remain bearish on BTCUSD

TRADE SUGGESTION- SELL AT 18400.00, TAKE PROFIT AT 18000.00 AND STOP LOSS AT 18700.00