Bitcoin- New leg down towards 42k?
In yesterday's comment, I said that I expect a dive under 50k and a new leg up and at least I was right with the first part. Bitcoin took a dive to my buy zone and reversed strongly afterward.
This reversal was stoped by the 55k strong confluence resistance and the main crypto is starting to roll back down at the time of writing.
From the technical point of view, BtcUsd si under confluence resistance given by short-term trend line and horizontal support and adds are not in crypto holders favor.
In my opinion rallies towards 55k should be sold with a target of around 42 previous ATH.
For a bullish perspective, bitcoin needs to pass above 55k AND STAY THERE!
This reversal was stoped by the 55k strong confluence resistance and the main crypto is starting to roll back down at the time of writing.
From the technical point of view, BtcUsd si under confluence resistance given by short-term trend line and horizontal support and adds are not in crypto holders favor.
In my opinion rallies towards 55k should be sold with a target of around 42 previous ATH.
For a bullish perspective, bitcoin needs to pass above 55k AND STAY THERE!
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💎 Crypto Channel:
t.me/FanCryptocurrency
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