Last chance for BTC bears??
Most of us were bearish on bitcoin and were expecting 28.5-30 levels, but with the recovery of Nasdaq and this bullish momentum could we possibly go for more upside? In my opinion 47-49k area(where my red lines are) is the last chance for bears and a good short entry. I expect more upside if we break those levels, we can even reach around 72k and form the FLAG that some bulls are expecting. ( blue trend at the top). Going down from here would be bad for bulls and we will probably retest 37k area and even worse if we break the consolidation ( blue and green line and the bottom). I won't be surprised if we reach 19.5-20k if this angle is broken!(green line)
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.