BTC going down!
After meeting heavy resistance at 68 - 69k,
BTC is on a downtrend.
And this makes my prediction correct for now, but this does not mean that the bull movement is completely over.
I still expect some price actions around 66.5k which is the price of the upper (resistance) line of the downtrend - which now works as the support level.
And there's a good chance this might change the tide and start the bullish movement again.
Or the price might just pierce through the level, which would then make the bearish prediction stronger.
My humble piece of advice here would be:
React, not predict.
BTC is on a downtrend.
And this makes my prediction correct for now, but this does not mean that the bull movement is completely over.
I still expect some price actions around 66.5k which is the price of the upper (resistance) line of the downtrend - which now works as the support level.
And there's a good chance this might change the tide and start the bullish movement again.
Or the price might just pierce through the level, which would then make the bearish prediction stronger.
My humble piece of advice here would be:
React, not predict.
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We see a downtrend in 1H chart,
possible rebound at 66.5K.
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BTC is now in a consolidation period.
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After reaching the lower line of the recent uptrend channel,
the price is now bouncing back up.
However, meeting a resistance once again as it reaches the upper line of the downtrend channel. (Though this is just a minor setback)
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If the price would reach 66.6k once again,
we might expect some rebound.
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BTC 'resisting' the downtrend, rebounding after reaching 65.3k.
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Positive news is that TSLA Q4 report shows the company has not sold BTC as its holdings.
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