We called it yesterday! Bitcoin appeared really top heavy in the low $50K's, and sure enough, we saw a big dump back to comfort in the high $40K's. Granted, this hardly qualifies as a 'big dump' for Bitcoin, but it's enough to dampen hopes for us to return to pump mode, for the moment. We mentioned that 
52K seemed to be a barrier for BTC, with $52.8K the apparent ceiling. We did see BTC test 52K a few times, before rejecting these higher levels and smashing back down to $49.7K, where it continued to fall. It is currently finding support just above our level at $48.2K. We cited several more levels of support below this at $47.7K, then $46.2K, if the selloff is not finished. However, we appear to be finding good support at current levels, and are likely to hold here and perhaps range a bit before making the next move.
52K seemed to be a barrier for BTC, with $52.8K the apparent ceiling. We did see BTC test 52K a few times, before rejecting these higher levels and smashing back down to $49.7K, where it continued to fall. It is currently finding support just above our level at $48.2K. We cited several more levels of support below this at $47.7K, then $46.2K, if the selloff is not finished. However, we appear to be finding good support at current levels, and are likely to hold here and perhaps range a bit before making the next move.
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Join my discord at discord.io/quantguy
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.