Bitcoin may be going down to retest $55k-$50k on or before November 25. According to Technical Analysis conducted on the market structure by my group, we find the candlestick patterns repeating candlesticks that signifies a downward movement. However, we note that when trend breaks above the market level and starts retracing it’s maybe coming to the former support zone from whence it climbed.
Taking into consideration the recent candlestick patterns and the current market structure, we see the market continuously breaking structure to the downside. Predicting from a reasonable bias the bears in Bitcoin market are strongly in charge now and ready push to $55k to rest on a support zone where the bulls can later have a hands on.
However, it’s a matter of market and anything can happen. We are not going to forget that whales can jump in a change the bias.
Let’s look out for Bitcoin at $55k soon!!!
Taking into consideration the recent candlestick patterns and the current market structure, we see the market continuously breaking structure to the downside. Predicting from a reasonable bias the bears in Bitcoin market are strongly in charge now and ready push to $55k to rest on a support zone where the bulls can later have a hands on.
However, it’s a matter of market and anything can happen. We are not going to forget that whales can jump in a change the bias.
Let’s look out for Bitcoin at $55k soon!!!