BITCOIN BULLS TAKING OVER THE BEARS
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Check the related idea below for initial analysis. We predicted price to approach Bitcoin resistance level at 58000$ zone in our last chart yesterday.
Price has performed well up till now but our overall bias is still bearish until we have a clear Break of Structure above 59000$.
Price has performed well up till now but our overall bias is still bearish until we have a clear Break of Structure above 59000$.
Not
What to expect from Bitcoin as short term play:1/ Bitcoin to reject at the bearish discounted zone if bull loses strength.
2/ Price to consolidate inside the supply zone before major breakout.
3/ A break of structure to the upside for more upside move to sub 63000$
Note; Bitcoin is clearly bearish on the weekly timeframe and the bulls need more strength to flip structure bullish. A failed attempt could lead Bitcoin below 53000$
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