The Dump Go Choke on Bitcoin Bulls says Bitcoin Gorilla
This is a simple straight forward analysis on bitcoin, Can these bulls escape these bears plan , I talked about this 68K we hit way back in March , Yyou can read it here
It played out real good from our support of 38k. but I saw a dump which I also have been warning to wait to buy it cheaper. the current ATH seem like a trap to me so I have made a cohort video to explain my opinion better using my Box strategy
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This only means that from this point, expect the bear market structure of lower highs and lower lows to start printing more.
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Currently, we see the bear pressure growing on the current 4hrs support. These buyers are facing serious stop-loss. I see the bears adding more force to break the support I thought could bounce., this support will break down if they continue this strong push. But then if the buyers are able to hold, it will turn out to be a spring. If the bears succeed, I see anywhere from 52k to 48k next
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BTC made it to 54k support. This support ranges from 54k to 52k at this point, According to my box strategy, I do expect to see to 58k, If the bulls are able to get above the 58k they will see 64k again before further dump occur
I do see a previous broken support area of 64k all the way to 66k becoming the new obstacle that could lead to a second leg down to 54k this time.