๐ฅ Bitcoin Bearish Wedge: Make It Or Break It
Two days ago I made an analysis on Bitcoin and the bearish wedge in which it was trading.
After almost dropping 10% in a day, Bitcoin is currently trading near the support area of this bearish wedge. Ideally, BTC reverses sharply from this area and pushes back to 66k+ today. Most bearish case would be for BTC to close the day below the support line.
Overall, I'm still very bullish on Bitcoin and the state of the market. However, there's a decent chance that we're going to touche the support area in the coming week or so. Traders are vastly over-leveraged and greed is reigning.
I'm not expecting BTC to fall through the support area, since I'm a firm believer that the cycle will continue in the coming months.
Happy trading!
After almost dropping 10% in a day, Bitcoin is currently trading near the support area of this bearish wedge. Ideally, BTC reverses sharply from this area and pushes back to 66k+ today. Most bearish case would be for BTC to close the day below the support line.
Overall, I'm still very bullish on Bitcoin and the state of the market. However, there's a decent chance that we're going to touche the support area in the coming week or so. Traders are vastly over-leveraged and greed is reigning.
I'm not expecting BTC to fall through the support area, since I'm a firm believer that the cycle will continue in the coming months.
Happy trading!
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๐Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
โ Monster Signals: t.me/monster_cryptosignals
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