Bitcoin looks like it's about to bounce just above the 7,000. We might get a 1-2 week consolidation period at this level just like we saw on April and then move up to around 8,600-9,000 or we might as well just bounce up directly as we saw earlier this year in February.
Either way, if we are to continue bearish, this log trend line has been working out since November, so it will take at least a couple days to break through it.
If we end up breaking downwards, I would personally wait to see if it makes a triple bottom before going short, as there is very little margin between both support levels.
Either way, if we are to continue bearish, this log trend line has been working out since November, so it will take at least a couple days to break through it.
If we end up breaking downwards, I would personally wait to see if it makes a triple bottom before going short, as there is very little margin between both support levels.