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BTC - Current momentum in favour of the bears
#Btc is currently consolidating at 38,800usd but looks primed to fall to an established 30k support zone as indicated on the chart, seeing that it has fallen out of a full year’s ascending channel and has been rejected twice on it’s attempt to make a re entry back into that channel.
There’s been no major news for btc that’s strong enough to drive a strong momentum upwards and there is extreme fear in the market as of today, hereby shifting the momentum in favour of the bears. Unless some unforeseen events occur as soon as possible to bring back confidence for the bulls, expect the bears to create a strong descent in price as the 29-33k support is currently looking like an enticing prey, so take note my loves. I wish y’all a profitable trading!
This is NOT investment advice.
Trade with caution.
There’s been no major news for btc that’s strong enough to drive a strong momentum upwards and there is extreme fear in the market as of today, hereby shifting the momentum in favour of the bears. Unless some unforeseen events occur as soon as possible to bring back confidence for the bulls, expect the bears to create a strong descent in price as the 29-33k support is currently looking like an enticing prey, so take note my loves. I wish y’all a profitable trading!
This is NOT investment advice.
Trade with caution.
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