BITCOIN BULLISH CONTINUATION
BTCUSD As we can see the price of BTC dropped from 63k down to $52 and a lot of people were panicking, if we take a closer look at the price action of Bitcoin, we can see that there was a lot of liquidity and imbalance sitting at the 50k and %52k levels which was supposed to be cleared out. Also the price of Bitcoin break above a 32day descending trendline which is also a significant move for Bitcoin.
My expectation as to where the price is heading to for the meantime is the 63k price level, we should expect some price rejections at this price range as it's important level to watchout for in the short.
My overall market sentiment for Bitcoin right now is bullish and taking into consideration that Bitcoin has filled all the price imbalances it left behind. We are currently trading within a Bullish rectangular pattern which is a bullish indicator and if price breaks above it we should see Bitcoin reaching 80k and above.
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Note! This is not financial advice do your own research.
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