๐ฅ Bitcoin Massive Bounce After Huge Sell-Off
Today was a hectic day with BTC losing almost 12% since midnight. As it currently stands, we're facing a massive bounce from the lower support line.
In case this bounce will be as strong as the bounce we saw on the 19th of May, we might see 33k again today. Good news for bulls!
As it appears for now, the drop below 30k is seemingly a fake-out. My current near term target would be the 34k resistance, potentially the orange resistance trend line around 35k. Mid term outlook is still bearish.
Since we're currently seeing a very strong reversal, I wouldn't be surprised if we'd visit the strong area of support again between 31k and 30k before resuming the reversal.
Happy trading!
In case this bounce will be as strong as the bounce we saw on the 19th of May, we might see 33k again today. Good news for bulls!
As it appears for now, the drop below 30k is seemingly a fake-out. My current near term target would be the 34k resistance, potentially the orange resistance trend line around 35k. Mid term outlook is still bearish.
Since we're currently seeing a very strong reversal, I wouldn't be surprised if we'd visit the strong area of support again between 31k and 30k before resuming the reversal.
Happy trading!
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