BitcoinShort
April 3rd 2024: Another bear day for #BTC and Altcoins?
The implications of the extra #Bitcoin supply coming from the US Government are most probably still in place. We still haven't seen the final dip yet, but we're getting closer to it.
The pullback within the falling #trend is forming a #wegde with a noticable falling #volume alongside its formation.
The minimum implication of the wedge sits below the 64.7k #support area. a false #breakout below that support area and a bounce back above it is possible. But I would say that the final #dip would take place at around the 63K support area (proven to be stronger and more reliable).
All of what mentioned above could take place quickly within this day, as it takes longer to build that to tear down.
Notice: A Volume spike is not necessary at the downside breakout.
The pullback within the falling #trend is forming a #wegde with a noticable falling #volume alongside its formation.
The minimum implication of the wedge sits below the 64.7k #support area. a false #breakout below that support area and a bounce back above it is possible. But I would say that the final #dip would take place at around the 63K support area (proven to be stronger and more reliable).
All of what mentioned above could take place quickly within this day, as it takes longer to build that to tear down.
Notice: A Volume spike is not necessary at the downside breakout.
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