Bitcoin could not hold gains
Updated
Bitcoin has dropped around 10k since the last ATH.
58.5k support stopped this drop and bulls tried to take control
However, the buying power is weak and the price couldn't pass above 61k now resistance
As long as the price is under this zone I expect continuation to the downside and Bitcoin could drop to the next major support at 52.
I will look to sell rallies and a daily close above 61k would negate my bearish scenario
58.5k support stopped this drop and bulls tried to take control
However, the buying power is weak and the price couldn't pass above 61k now resistance
As long as the price is under this zone I expect continuation to the downside and Bitcoin could drop to the next major support at 52.
I will look to sell rallies and a daily close above 61k would negate my bearish scenario
Note
My new btc idea.58500 is now resistance and short term traders can look to sell in that zone
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