Good evening ladies and gentleman, today we are going to look at Bitcoin!
These past two months bitcoin and the crypto market generally speaking has seen a phenomenal upside and bitcoin has formed a great ascending channel, respecting the resistance and also keeping within the lower parts of the channel. From what I can see right now Bitcoin is on the support of the channel with very little volume towards the upside again (38.000). As of right now BTC has created a bottom and is turning green, but it is still a great possibility that it breaks this channel and goes for the big support down at 34.000 area, making it a -8% correction. These next few days are crucial for Bitcoin.
If Bitcoin bounces are from this bottom and makes a higher low like it has done the times before we can see great upside.
Keep in mind that a lot of Bitcoin holders are also holding their assets in Binance that has just gone through a bad legal battle with the SEC, making the CEO CZ resign and Binance market cap has gone down from 41B to 34,5B in a matter of a week. This is a scarce period for crypto.
Let me know your guys thoughts!
-The Stallion
These past two months bitcoin and the crypto market generally speaking has seen a phenomenal upside and bitcoin has formed a great ascending channel, respecting the resistance and also keeping within the lower parts of the channel. From what I can see right now Bitcoin is on the support of the channel with very little volume towards the upside again (38.000). As of right now BTC has created a bottom and is turning green, but it is still a great possibility that it breaks this channel and goes for the big support down at 34.000 area, making it a -8% correction. These next few days are crucial for Bitcoin.
If Bitcoin bounces are from this bottom and makes a higher low like it has done the times before we can see great upside.
Keep in mind that a lot of Bitcoin holders are also holding their assets in Binance that has just gone through a bad legal battle with the SEC, making the CEO CZ resign and Binance market cap has gone down from 41B to 34,5B in a matter of a week. This is a scarce period for crypto.
Let me know your guys thoughts!
-The Stallion