This year Bitcoin has just been trading within the drawn channel. We officially broke the trend yesterday with a bearish engulfing candle closing below the trend line. This is definitely not good for the bulls and has made me a bear in the short to mid term. All the indicators are adding to the bearish outlook with the MACD about to have some serious momentum to the downside. The next support levels that we want to be looking at fall around 30K and $31,500. In the case that we can't hold 30K it's basically a free fall down to 20K Grab some popcorn and enjoy the show.
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