BTC Broke Down, when do we bounce?
Updated
BTC did not manage to maintain the break up from the previous idea. Weekends do not generaly provide big moves so this is not too surprising.
It doesn't look good for bulls, but we have seen good volume to expect the end of the long hunt, so we might see another bounce off the general uptrend around 20500.
If this bounce fails, we are retesting the 19-20k area, and potentialy below, although in my humble opinion we wont see sub 19k within the next week, as all indicators are oversold.
It doesn't look good for bulls, but we have seen good volume to expect the end of the long hunt, so we might see another bounce off the general uptrend around 20500.
If this bounce fails, we are retesting the 19-20k area, and potentialy below, although in my humble opinion we wont see sub 19k within the next week, as all indicators are oversold.
Note
CPI was a big hit, forcing BTC under the trendline.However the responce was a show of strength, and we can expect further upside in the midterm
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