BITCOIN IN TROUBLE
Bitcoin has closed below critical support zone of 88-90k on the monthly with a massive bearish engulfing. This lead to the break of the uptrend and trend line(green line) that was holding markets since the 70k breakout from downward trend line(red line). Bitcoin also clearly rejected the upward cyclic trend line (pink line) to perfection marking the pico top of this cycle.
The markets have now tested the broken support forming a lower high and heading down.The target for price in this bearish continuation is 68-72k BTC where lies critical support and is most likely a good area of interest for long positions.
The markets have now tested the broken support forming a lower high and heading down.The target for price in this bearish continuation is 68-72k BTC where lies critical support and is most likely a good area of interest for long positions.
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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.