MAKE OR BREAK FOR BITCOIN
Good evening ladies and gentleman, today we are going to look at Bitcoin!
These past two months bitcoin and the crypto market generally speaking has seen a phenomenal upside and bitcoin has formed a great ascending channel, respecting the resistance and also keeping within the lower parts of the channel. From what I can see right now Bitcoin is on the support of the channel with very little volume towards the upside again (38.000). As of right now BTC has created a bottom and is turning green, but it is still a great possibility that it breaks this channel and goes for the big support down at 34.000 area, making it a -8% correction. These next few days are crucial for Bitcoin.
If Bitcoin bounces are from this bottom and makes a higher low like it has done the times before we can see great upside.
Keep in mind that a lot of Bitcoin holders are also holding their assets in Binance that has just gone through a bad legal battle with the SEC, making the CEO CZ resign and Binance market cap has gone down from 41B to 34,5B in a matter of a week. This is a scarce period for crypto.
Let me know your guys thoughts!
-The Stallion
These past two months bitcoin and the crypto market generally speaking has seen a phenomenal upside and bitcoin has formed a great ascending channel, respecting the resistance and also keeping within the lower parts of the channel. From what I can see right now Bitcoin is on the support of the channel with very little volume towards the upside again (38.000). As of right now BTC has created a bottom and is turning green, but it is still a great possibility that it breaks this channel and goes for the big support down at 34.000 area, making it a -8% correction. These next few days are crucial for Bitcoin.
If Bitcoin bounces are from this bottom and makes a higher low like it has done the times before we can see great upside.
Keep in mind that a lot of Bitcoin holders are also holding their assets in Binance that has just gone through a bad legal battle with the SEC, making the CEO CZ resign and Binance market cap has gone down from 41B to 34,5B in a matter of a week. This is a scarce period for crypto.
Let me know your guys thoughts!
-The Stallion
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