🔥 BTC Strong Break Out: Dump Is Over?
Updated
In my BTC analysis of this morning I was argueing a potential break out of the bearish channel. Just half a day later the break out already happened, didn't expect this! Take a look at my previous analysis.
Current outlook for the market is, at least in the near term, very bullish. 42k is the next major hurdle to take, but even that stands no chance to the massive buying of whales. After BTC will hit 42k, I'm expecting a small bearish move towards 40k-38k (tomorrow or the day after). After this small bearish correction I expect that BTC will recover a lot of its losses, targeting 50k in the next 1-2 weeks.
Happy trading!
Current outlook for the market is, at least in the near term, very bullish. 42k is the next major hurdle to take, but even that stands no chance to the massive buying of whales. After BTC will hit 42k, I'm expecting a small bearish move towards 40k-38k (tomorrow or the day after). After this small bearish correction I expect that BTC will recover a lot of its losses, targeting 50k in the next 1-2 weeks.
Happy trading!
Note
Appears that BTC has indeed retraced towards the channel resistance. BTC is currently seeing a bullish reversal from the 0.618 Fibonacci. Next stop: 42k
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