NXL Trader
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High-Frequency Trader
4.8 Years
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Bitcoin Will Not Surrender So Easily
After BTC tested a strong weekly resistance area near 48960, we saw BTC suddenly drop to 41500 in just two days by almost -15%.
Probably the price will start the process of reversal near this zone, but it will not go down easily.
It will take some time before BTC gets ready for the next bearish wave. By now, it could rise again from 41500 considering that the price has already accumulated some bullish volume.
A move above the triangle pattern should push BTC back up as shown on the chart.
Thanks and good luck!
#BTCUSDT
#BTC
After BTC tested a strong weekly resistance area near 48960, we saw BTC suddenly drop to 41500 in just two days by almost -15%.
Probably the price will start the process of reversal near this zone, but it will not go down easily.
It will take some time before BTC gets ready for the next bearish wave. By now, it could rise again from 41500 considering that the price has already accumulated some bullish volume.
A move above the triangle pattern should push BTC back up as shown on the chart.
Thanks and good luck!
#BTCUSDT
#BTC
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