BTCUSD – Likely to Trade Lower

Taking a look at the daily timeframe, this instrument is likely to trade lower towards the 200 SMA or around the 26000 handle. This level also lines up with the 78.6% retracement level from the most recent bullish impulse to the upside.

Note that this setup is for swing traders. For all long-term investors, I suspect bullish continuation after we complete the bearish pullback as I pointed out on the chart.