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Hey, guys,
from the last bitcoin update, we saw a rebound to the 63-64K zone as predicted, but again we see a fall back to support and the buy zone. The bad news is I don't like the fact that we fell so sharply (the rate of fall is higher than the rate of rise is a bearish sign), and the second bad news is that the more often we test the 60K support the weaker it becomes. Supports are still below 60K and behind the local low of 57K, as we understand there is a lot of stop liquidity there and it may well be tested. The key resistance is above 64K, a break of which will give the way above 67 and 72K.
Stay tuned.
LIVEPROFIT_PILOT
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#Bitcoin #BTC #BTC₿ $BTC
Hey guys,
bitcoin is correcting, I drew a similar formation in the weekly review. It looks like a technical correction and a test of the buyers demand zone. We will probably see a recovery from somewhere in this zone. The key areas to watch out for are 60k and the selling climax zone of 57k. The last few days have seen a rebound in net inflows into bitcoin ETFs to the tune of 600 million (smart money is buying).
Stay tuned.
Hey guys,
bitcoin is correcting, I drew a similar formation in the weekly review. It looks like a technical correction and a test of the buyers demand zone. We will probably see a recovery from somewhere in this zone. The key areas to watch out for are 60k and the selling climax zone of 57k. The last few days have seen a rebound in net inflows into bitcoin ETFs to the tune of 600 million (smart money is buying).
Stay tuned.
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