$BTC bearish continuation
#bitcoin price is declined hard from the top of the falling channel and 66600 #usd (getting more interesting) resistance zone. Now, #btc has weakened structure in short term.
Chart formed bearish head and shoulder pattern. I expect bearish continuation with choppy moves , dead cat bounces etc. The target may the bottom of the channel 57 - 58K zone. Also there' s nice liquidations there.
If #btcusd price follows this path, #altcoins will surely suffer more. When most of #altcoin prices retraces to their retest zone of 2023 October - 2024 march bull run, then i expect very favorable bounces from #alts there. We may see a minor #altseason when this happens. But i say "minor".
Not financial advice. DYOR.
Chart formed bearish head and shoulder pattern. I expect bearish continuation with choppy moves , dead cat bounces etc. The target may the bottom of the channel 57 - 58K zone. Also there' s nice liquidations there.
If #btcusd price follows this path, #altcoins will surely suffer more. When most of #altcoin prices retraces to their retest zone of 2023 October - 2024 march bull run, then i expect very favorable bounces from #alts there. We may see a minor #altseason when this happens. But i say "minor".
Not financial advice. DYOR.
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.