Like I always start my crypto analysis, I really hope that I’m wrong in my analysis, I really want to see this market take off and BLOW all previous highs.
Bitcoin is in a consolidation zone we have been steadily rising towards the previous high zone but there’s been two times that it almost reached that 7,500 -7,400 area and rapidly rejects it(until this writing). There’s some serious selling pressure in that area, if we passed this zone there’s definitely a resistance zone in the 7,800 area, if we want bitcoin to continue bullish we need to blow past these and close above it, if that doesn’t happen I’m still bearish on bitcoin and expect it to return back to the 6,000 area or even further which is better for all of us to keep buying and holding the crypto.
Bitcoin is in a consolidation zone we have been steadily rising towards the previous high zone but there’s been two times that it almost reached that 7,500 -7,400 area and rapidly rejects it(until this writing). There’s some serious selling pressure in that area, if we passed this zone there’s definitely a resistance zone in the 7,800 area, if we want bitcoin to continue bullish we need to blow past these and close above it, if that doesn’t happen I’m still bearish on bitcoin and expect it to return back to the 6,000 area or even further which is better for all of us to keep buying and holding the crypto.