💰 LET'S GET INTO SOME BITCOIN ANALYSIS!💰
1️⃣ First off SMASH that LIKE BUTTON & Give us a FOLLOW for DAILY ANALYSIS! ❤❤❤
(Overall Market Sentiment) 🐻 Bearish
- Previous to the last selloff we had a pennant squeeze and everyone was super bullish. Everybody swore that it would breakout and moon. Then shortly after we collapsed and broke the bull pennant shedding more than 50% in value in a day or 2 if I remember correctly. All of the bulls were in complete shock wondering what had happened to all of their precious Satoshis overnight. We have now see constant push back to the upside which is positive. My main concern now is if we are going to play structure by thr book with S&R, then we need to consider the fact that now we are trapped under 10k which is long term Resistance and that our old support before the drop is now acting as new Resistance. So we technically I look at it as we are under some serious bear pressure and I have been leaning towards the bears on bitcoin. As we stated before, patterns don't always go as planned. I'm starting to see the 3day and weekly compress for a turnaround to the downside.
Drop a comment below and let us know which side you're leaning towards! Please share your chart analysis below so we can see your ideas on future bitcoin movement! ❤❤❤
Thanks for checking out our analysis! ✌😁✌
🥇MLT | MAJOR LEAGUE TRADER
1️⃣ First off SMASH that LIKE BUTTON & Give us a FOLLOW for DAILY ANALYSIS! ❤❤❤
(Overall Market Sentiment) 🐻 Bearish
- Previous to the last selloff we had a pennant squeeze and everyone was super bullish. Everybody swore that it would breakout and moon. Then shortly after we collapsed and broke the bull pennant shedding more than 50% in value in a day or 2 if I remember correctly. All of the bulls were in complete shock wondering what had happened to all of their precious Satoshis overnight. We have now see constant push back to the upside which is positive. My main concern now is if we are going to play structure by thr book with S&R, then we need to consider the fact that now we are trapped under 10k which is long term Resistance and that our old support before the drop is now acting as new Resistance. So we technically I look at it as we are under some serious bear pressure and I have been leaning towards the bears on bitcoin. As we stated before, patterns don't always go as planned. I'm starting to see the 3day and weekly compress for a turnaround to the downside.
Drop a comment below and let us know which side you're leaning towards! Please share your chart analysis below so we can see your ideas on future bitcoin movement! ❤❤❤
Thanks for checking out our analysis! ✌😁✌
🥇MLT | MAJOR LEAGUE TRADER
