Bitcoin may see a new low.
Looking at the recent behaviour of Bitcoin, bulls doesn't seems to be in control of the situation as of now and Bitcoin may likely see a new low or retest the previous lows.
Keeping in mind bitcoin wasn't able to sustain the new highs and it seemed more of a liquidity grab in order to look for new lows or retest the previous lows.
The situation and behaviour of bitcoin gets interesting near the local "Golden Pocket" and point of control which comes around 20900 - 21671 and looking at the present scenario it seems difficult for bitcoin to sustain the point of control ,which may result in some bloodbath in the coming days and could eventually give us a ride back to the previous lows or if worse even to new lows coming near "10k to12k".
Invalidation of this idea comes at breakout of bitcoin from the bearish channel given in the idea.
Feel free to give any suggestions or improvements in the chart, It would be highly appreciated.
Keeping in mind bitcoin wasn't able to sustain the new highs and it seemed more of a liquidity grab in order to look for new lows or retest the previous lows.
The situation and behaviour of bitcoin gets interesting near the local "Golden Pocket" and point of control which comes around 20900 - 21671 and looking at the present scenario it seems difficult for bitcoin to sustain the point of control ,which may result in some bloodbath in the coming days and could eventually give us a ride back to the previous lows or if worse even to new lows coming near "10k to12k".
Invalidation of this idea comes at breakout of bitcoin from the bearish channel given in the idea.
Feel free to give any suggestions or improvements in the chart, It would be highly appreciated.