🔥 Bitcoin Can Fall Further: No Danger For Bulls, Yet
In yesterday's Bitcoin analysis I talked about the daily bearish divergence on the BTC chart. The divergence is not yet a signal to short, but it's showing some cracks in the trend that we're currently trading in. Take a look below.
In this analysis I want to explore Bitcoin's possibilities in case we're actually going to see a bearish period.
In my view, BTC will stay longer-term bullish as long as we trade above the dotted purple resistance. So, there's no reason for long-term bears to celebrate as long as this line is holding.
With stocks showing signs of weakness, there's a possibility for more bearish price action over the next two weeks. Which can, potentially, take us down towards the dotted support.
Consequentially, opening a long from said support is definitely something I'm looking for.
In this analysis I want to explore Bitcoin's possibilities in case we're actually going to see a bearish period.
In my view, BTC will stay longer-term bullish as long as we trade above the dotted purple resistance. So, there's no reason for long-term bears to celebrate as long as this line is holding.
With stocks showing signs of weakness, there's a possibility for more bearish price action over the next two weeks. Which can, potentially, take us down towards the dotted support.
Consequentially, opening a long from said support is definitely something I'm looking for.
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