BTC is due for further correction
We are in the rising channel here and at the moment BTC is held by a near term support at 58.5K.
Tuesday daily bearish bar has been confirmed with a huge volume indicating that the selling pressure is still present.
From the price action I can see we could easily drop to 50K-52K area where I marked my buy zone with EMA150 & EMA200 + channel floor + psychological number + 50 Fibo confluence.
Do not forget that every healthy market has pullbacks so do not panic. We are still in a bull run.
Tuesday daily bearish bar has been confirmed with a huge volume indicating that the selling pressure is still present.
From the price action I can see we could easily drop to 50K-52K area where I marked my buy zone with EMA150 & EMA200 + channel floor + psychological number + 50 Fibo confluence.
Do not forget that every healthy market has pullbacks so do not panic. We are still in a bull run.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.