๐ฅ Bitcoin Losing The Uptrend: Fall Through Support
As of now, BTC is trading $20k. This is a very important area of support for a multitude of reasons, so a fall below will naturally be bad for the market.
Around a week ago we saw a strong bounce from said support. A daily close below $20k would mean that we've lost the daily uptrend and are not in a higher-high and higher-low scenario. In my view, once we lose $20k, $19k and potentially $18k are next. Be aware that we first have to close below $20k.
This in line with yesterday's analysis where I compared the current market with the 2018 capitulation.
Around a week ago we saw a strong bounce from said support. A daily close below $20k would mean that we've lost the daily uptrend and are not in a higher-high and higher-low scenario. In my view, once we lose $20k, $19k and potentially $18k are next. Be aware that we first have to close below $20k.
This in line with yesterday's analysis where I compared the current market with the 2018 capitulation.
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