BitcoinShort
Bitcoin | Recovery Before The Next Drop? [BTCUSD]
Looking at the BTC market today, I'm feeling pretty bearish.
Since the 6.5k area didn't hold, I'm assuming that we go down even further to the 6.2k zone.
Right now, we see the market recovering / pulling back, but I think that 6.5k will act as a strong resistance now.
If we tag that area, it would be a good opportunity to load up on some shorts.
Shall the bulls not get above 6.5k again in the next days, I think its pretty much game over.
As for now, all we can see as an acceleration to the downside. Lower highs appear quicker and quicker, squeezing into the bottom of the multi-month triangle.
Be prepared for some violent moves during the next days/weeks.
Have a nice day!
---
For a more detailed analysis check out my YouTube Video:
youtube.com/watch?v=CYh85ib3TF0
Since the 6.5k area didn't hold, I'm assuming that we go down even further to the 6.2k zone.
Right now, we see the market recovering / pulling back, but I think that 6.5k will act as a strong resistance now.
If we tag that area, it would be a good opportunity to load up on some shorts.
Shall the bulls not get above 6.5k again in the next days, I think its pretty much game over.
As for now, all we can see as an acceleration to the downside. Lower highs appear quicker and quicker, squeezing into the bottom of the multi-month triangle.
Be prepared for some violent moves during the next days/weeks.
Have a nice day!
---
For a more detailed analysis check out my YouTube Video:
youtube.com/watch?v=CYh85ib3TF0
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