Bitcoin - False breakout may start bear market
Yesterday Bitcoin closed the daily candlestick below USD 58,000, showing false breakout of the historical top, this move could just be the beginning of a long downtrend that we may have.
On the weekly we also have a reversal signal with the two inverted hammers followed by a strong bearish candlestick that will close on Sunday, to undo this possible scenario Bitcoin needs to close this weekly candle above 60,000.
For this reason I decided to sell about 66% (2-thirds) of my cryptoactives yesterday
On the weekly we also have a reversal signal with the two inverted hammers followed by a strong bearish candlestick that will close on Sunday, to undo this possible scenario Bitcoin needs to close this weekly candle above 60,000.
For this reason I decided to sell about 66% (2-thirds) of my cryptoactives yesterday
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Bitcoin weekly candle didn't close well for bulls, we now have an inverted hammer (shooting star) activated right at the historical top line.
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Bitcoin is in an important support zone in the 52k to 53k region, it is a strong candidate to stop the decline, depending on how the reaction is I will be repurchasing some positions, for now I keep most of my portfolio in USD.
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