Two corrective scenarios for Bitcoin
After the previous local correction we are now well on the way to our next targets. Bitcoin remains within the bearish Linear Regression Channel. We can slowly start shifting our bias from short-term bullish to cautiously bearish.
With the daily MFI entering the critical zone (70-80) and volume/momentum steadily decreasing, giving us divergence on the 4h MFI, we are currently approaching a few key price targets at 50.345$ (already reached) and the resistance zone of 51.500$-51.800$.
These could lead to some interesting short-opportunities, before #BTC heading back up in a more long-term perspective.
With the daily MFI entering the critical zone (70-80) and volume/momentum steadily decreasing, giving us divergence on the 4h MFI, we are currently approaching a few key price targets at 50.345$ (already reached) and the resistance zone of 51.500$-51.800$.
These could lead to some interesting short-opportunities, before #BTC heading back up in a more long-term perspective.
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