Bitcoin- Could drop to 40k zone again
Since the recent low under 46k, Bitcoin has had 5 good days and the price has risen above 50k to a high at 52k, slightly under 15%.
However, bulls could not hold the gains and, after a small range of consolidation above 50k, BtcUsd has dropped under this important figure again.
Now the price is in 49-49500 support and a drop here would expose 46 recent low.
More important is that if Bitcoin will break 46k confluence support the road is clear to the 40k zone and also would be a very bad sign for bulls in the future
My strategy is to sell rallies above 50k and, as I said multiple times, only a sustained break above 53k would make me bullish
However, bulls could not hold the gains and, after a small range of consolidation above 50k, BtcUsd has dropped under this important figure again.
Now the price is in 49-49500 support and a drop here would expose 46 recent low.
More important is that if Bitcoin will break 46k confluence support the road is clear to the 40k zone and also would be a very bad sign for bulls in the future
My strategy is to sell rallies above 50k and, as I said multiple times, only a sustained break above 53k would make me bullish
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
🌟 Bust your trading with 50% deposit bonus:
secure.m4markets.com/links/go/5426
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
🌟 Bust your trading with 50% deposit bonus:
secure.m4markets.com/links/go/5426
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.