🔥 Bitcoin Weakness: Hugging Support
A few days ago I made an analysis on BTC and talked about the fact that further weakness would lead to a move towards 37k. The move did indeed occur and 37k was hit, but held as support.
Two days ago we had a massive green day for BTC, but sadly the bulls gave everything away a day after. This move created a lower high, which signals further weakness.
For now, the dotted support line is holding. However, I think that the path of least resistance would be for more bearish price action to occur. The overall market is just in a dire state at the moment with little to be excited about.
Bearish targets: 37k - 35k
Bullish Targets: 44k - 46k
Happy trading1
Two days ago we had a massive green day for BTC, but sadly the bulls gave everything away a day after. This move created a lower high, which signals further weakness.
For now, the dotted support line is holding. However, I think that the path of least resistance would be for more bearish price action to occur. The overall market is just in a dire state at the moment with little to be excited about.
Bearish targets: 37k - 35k
Bullish Targets: 44k - 46k
Happy trading1
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