🔥 Bitcoin Strong Bearish Move: But For How Long?
Updated
As we've seen over the last few hours, BTC has finally broken out of this massive pennant that has been formed over the last two weeks. As predicted in my previous near-term BTC analysis, the bearish trend continued.
I didn't expect BTC to fall so quickly through the 33.5k support, but then again this is not a major support and had a much higher chance to break than cause a meaningful reversal.
For now, there's little in the way for the price to fall further. In my previous analyses I've marked the 30k-31k zone as my personal preferable entry zone. Obviously, during a huge sell-off we might get a wick lower than 30k, potentially 28k, but I'm confident that the bull-run is not over yet.
See my post below for my long-term BTC analysis.
Happy trading!
I didn't expect BTC to fall so quickly through the 33.5k support, but then again this is not a major support and had a much higher chance to break than cause a meaningful reversal.
For now, there's little in the way for the price to fall further. In my previous analyses I've marked the 30k-31k zone as my personal preferable entry zone. Obviously, during a huge sell-off we might get a wick lower than 30k, potentially 28k, but I'm confident that the bull-run is not over yet.
See my post below for my long-term BTC analysis.
Happy trading!
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