If you read my analysis you noticed that I am bearish Bitcoin, and the price evolution did not disappoint me...
Taking a look back, after Sunday's drop, BtcUsd traded in a range with gains very well capped around 57k and, at the time of writing, this consolidation is broken to the downside
50k is an important psychological price for bulls and a fail to sustain it would result in a steep drop
At this moment resistance is around 53k and, in the event of a rebound, this could be a good opportunity to open short trades
Only Bitcoin above 53 would delay this bearish scenario and would put Bitcoin in a range trading state (Not Bullish!!!)
Taking a look back, after Sunday's drop, BtcUsd traded in a range with gains very well capped around 57k and, at the time of writing, this consolidation is broken to the downside
50k is an important psychological price for bulls and a fail to sustain it would result in a steep drop
At this moment resistance is around 53k and, in the event of a rebound, this could be a good opportunity to open short trades
Only Bitcoin above 53 would delay this bearish scenario and would put Bitcoin in a range trading state (Not Bullish!!!)
🚀 Elevate your trades with a 20-year market veteran!
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
🌟 Premium Contact:
t.me/IacobMihai
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
🌟 Premium Contact:
t.me/IacobMihai
