#DYOR #TipsTradingFutures #bitcoin
Finally $BTC has determined its clear direction, which is correction.
Yesterday after almost 40 hours we consolidated at a price of 72 k. Finally there was a correction.
The bear view will see the increase in btc to 73.6 k yesterday as a "Fakeout" and form an Evening star candle on the 1 day timeframe.
this adds to the selling pressure that will occur in the next few days
not to mention in a smaller time frame (1/2 hour) we have again created a new low of 68.7k which in the previous movement was at 70.8k
which means it has changed the bullish trend to bearish in a smaller time frame
if btc is unable to hold at the 68.4k level then the next target is 65-66k
because in that area is the starting point of an impulsive movement towards a price of 73.6k
will bitcoin continue its decline?
I am on the side that answers "yes"
not to mention today there are 2 important US economic data that came out, namely "unemployment Rate and NFP" these 2 data if the results are outside market expectations then they will be one of the triggers for the next decline in bitcoin
however the bull view will say this is a correction that must be done for a healthy movement and the next pump
there is nothing wrong with these 2 views. anything can happen. because only time can answer the truth.
don't forget to follow
my next post will update about the correlation of moonphase with the price of bitcoin
one that can be used as a view for us to determine the next movement of bitcoin prices up or down
