Back in December, I shared a bearish analysis on #BTCUSD, highlighting a potential major move. Now, we've seen:
📉 2.1M pips
📉 -19.56% decline
Key Technical Reasons:
✔ Falling Wedge on the Daily TF
✔ Retest of the Rising Wedge and trendline
👁 Falling Wedge formation on the Monthly TF, with a breakout of resistance that the market needs to retest to the downside
Now that we've reached a long-term support level, I'm expecting a short pullback to the upside before the bearish trend resumes toward $64K.
Sharing both my December analysis and an updated chart for reference. 📊
#Bitcoin #CryptoAnalysis #Trading #TechnicalAnalysis #BTC #Markets
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.