๐ฅ Bitcoin On The Edge Of The Abyss ๐จ
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๋ฐ์ดํธ๋จ
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Over the last few weeks I've made several analyses on Bitcoin's incredibly low volatility, and the fact that we were about to lose the 2023 uptrend.
As of now, BTC is trading on the edge of the bullish yellow support line. In my personal opinion, it's more likely that BTC will break bearish. August and September are historically bad months for stocks and crypto, plus pre-halving years have historically been half bull & half bear.
Be aware that the bearish break out has not yet been confirmed. If I were a bear, I'd want to see a big red candle over the next few days to confirm the break out.
As mentioned before, I'm still quite convinced that 15.5k was the bear-market low. However, this doesn't mean we can't go to 20k over the next months... Time will tell.
Are we breaking bullish or bearish? Share your thoughts ๐
Over the last few weeks I've made several analyses on Bitcoin's incredibly low volatility, and the fact that we were about to lose the 2023 uptrend.
As of now, BTC is trading on the edge of the bullish yellow support line. In my personal opinion, it's more likely that BTC will break bearish. August and September are historically bad months for stocks and crypto, plus pre-halving years have historically been half bull & half bear.
Be aware that the bearish break out has not yet been confirmed. If I were a bear, I'd want to see a big red candle over the next few days to confirm the break out.
As mentioned before, I'm still quite convinced that 15.5k was the bear-market low. However, this doesn't mean we can't go to 20k over the next months... Time will tell.
Are we breaking bullish or bearish? Share your thoughts ๐
๋
ธํธ
Daily close below 28.8k would be a serious hit to the bulls. Watch for scam-wicks!๋
ธํธ
Bearish break out confirmed for now. Still, patient bulls would love a scam-wick type scenario.
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