Bitcoin- I've become from bearish to strongly bearish
Two days ago I closed my sell shorts expecting a relief rally and yesterday, after the break above 42500, I expected at least 46k resistance to be touched. Even I, as bearish as I am on medium-term, didn't expect such a strong reversal. And this quick fall to 40k again tells me one thing only, Bitcoin has more to fall.
From a technical point of view, Bitcoin has traded in a range in the past month, from 40 to 44k or so, and this rectangle should mean continuation once 40k is clearly broken.
The first clear support is at 35k followed by the strong 30k support. Bitcoin above 45k would put a stop to this scenario
From a technical point of view, Bitcoin has traded in a range in the past month, from 40 to 44k or so, and this rectangle should mean continuation once 40k is clearly broken.
The first clear support is at 35k followed by the strong 30k support. Bitcoin above 45k would put a stop to this scenario
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