Mihai_Iacob

Bitcoin- New low soon?

Short
BITSTAMP:BTCUSD   Bitcoin
After the recent low made in mid-June, Bitcoin started a reversal and reached 25k zone resistance.
The rise was clearly corrective and it was clear that bulls are struggling.
The final of this correction is a rising wadge that was a warning for bulls.
Yesterday the small flag was also broken down and now the price is in free fall.
In my opinion, the previous low will not offer much support and will be just a pit stop and Bitcoin will fall further under.
Rallies towards 21k should be sold and, in the medium to longer term, 12k can be reached.

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