BTCUSD: BEAR

24 May 2020

Most persons are now focused on sentiments of the halving already occurring and an expected move for Bitcoin to 10k. I dont personally share that sentiment and see a bear market ahead with a gradual correction back. Reviewing the charts show that a number of orders at 10k were filled and now accumulation at 9200 is exhausted which led to a drop down to 8800. We can expect some consolidation into this week leading to more bearish sentiments barring any news that may tip the scales.


Note: This is not to be taken as a signal or financial advice but merely an educative view on what the market may do.