Bitcoin- Yesterday's price action provides a lot of clues
In my previous 3 or 4 analyzes I said that in order to maintain its bullish trajectory, Bitcoin not only needs to stay above 63-63.5k zone but also needs to decisively break above 66k. Both of these have failed yesterday.
BtcUsd has started the week in a bullish tone, and after reversing from 63k, tried to reconquer 66k, and, as we all saw, failed and dropped to 63k support. This support is also broken now and the outlook for Btc is bearish at this moment.
From a technical point of view, 66k is now strong resistance and 69 ATH is a major top in my opinion.
I expect a drop of at least 15-20% for this crypto and a visit to 52k support in the medium term.
I will look to sell rallies against 66k
BtcUsd has started the week in a bullish tone, and after reversing from 63k, tried to reconquer 66k, and, as we all saw, failed and dropped to 63k support. This support is also broken now and the outlook for Btc is bearish at this moment.
From a technical point of view, 66k is now strong resistance and 69 ATH is a major top in my opinion.
I expect a drop of at least 15-20% for this crypto and a visit to 52k support in the medium term.
I will look to sell rallies against 66k
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