Hello traders, here is my view for btc at the moment :
Bitcoin was in bearish move since May 5th with increasing volume + open interest and convergence with RSI momentum in daily timeframe, this is a confirmation for strong bearish move.
What I expect :
I personally bearish for BTC since the abc correction target is on 25k area which is psychological number + fibonacci retrace confluences.
Bitcoin was in bearish move since May 5th with increasing volume + open interest and convergence with RSI momentum in daily timeframe, this is a confirmation for strong bearish move.
What I expect :
- BTC weekly closed below 26900 next stop is 25k area
- BTC weekly closed above 27250 next resistance is 28k area
- But BTC would not go above 29k IMO since there is a strong channel resistance.
I personally bearish for BTC since the abc correction target is on 25k area which is psychological number + fibonacci retrace confluences.