🔥 Bitcoin Bears Still In Control: For How Long?
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In my last couple of BTC analysis I've had a fairly bearish outlook on Bitcoin's price action. See below:
Seeing that BTC is currently experiencing a strong surge in price, I'm willing to look at the market with a more bullish perspective if BTC manages to break through the top purple resistance.
For now, I'm anticipating a rejection from said resistance because bears are still in control, and it's more likely that it will stay that way. An aggressive bear might want to make an entry from the top resistance and ride the wave down to the September lows.
Seeing that BTC is currently experiencing a strong surge in price, I'm willing to look at the market with a more bullish perspective if BTC manages to break through the top purple resistance.
For now, I'm anticipating a rejection from said resistance because bears are still in control, and it's more likely that it will stay that way. An aggressive bear might want to make an entry from the top resistance and ride the wave down to the September lows.
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A daily close above 27.5k would invalidate this area, plus I'll switch my short-term stance to bullish.
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