BitcoinLong
Bitcoin sellers look exhausted
After the massive sell off, it looks like Bitcoin is forming a bottom.
Would be surprised to see the wick lows invalidated after a very rapid decline. A gradual move higher towards the 50k area would be more probable.
This is where it will be important to watch. Further sideways consolidation or upward movement is most likely. However, there is downside risk of the 50k area become a lower low on the DAILY, which could be the start of a much larger bear market decline that would see Bitcoin possible move towards the 20k's.
Would be surprised to see the wick lows invalidated after a very rapid decline. A gradual move higher towards the 50k area would be more probable.
This is where it will be important to watch. Further sideways consolidation or upward movement is most likely. However, there is downside risk of the 50k area become a lower low on the DAILY, which could be the start of a much larger bear market decline that would see Bitcoin possible move towards the 20k's.
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