Bitcoin/USDT Ideas
‼️This is not financial advice‼️
Short and to the point:
- Bitcoin has been bullish for several weeks
- Bitcoin failed to continue the bullish trend after successfully breaking the All Time High level.
- There is a price deviation at the previous All Time High level from the Bitcoin/usdt price.
- Price back into the range value area around the level of 66,000 - 59,000
My bias with the price movement of the Bitcoin/USDT pair:
- There is an unacceptance from the Bitcoin market for the price to rise further, which is indicated by the deviation in the range high of Bitcoin.
- The price movement will most likely be bearish chasing the range low / support level around the 59,000 level.
- It is likely that the price will struggle for a while around the February High and Monthly Open levels.
Is it a sign of a big reversal?
For now, I prefer to wait for a reaction at the support level.
Based on market data, there is still no large-scale distribution of Bitcoin at this time.
