After reaching a new ATH on 22 Feb, Bitcoin dropped and found support in the previous ATH zone around 43k.
Now the main cryptocurrency is trading again above 50k and crypto enthusiasts are calling for a break above 60k. In my opinion, this will not happen and, if it will, will be very short-lived.
From a technical point of view, the rise from 43k is corrective, not impulsive and a break under previous resistance just above 50k would accelerate losses to at least 40k.
I'm looking to short it
Now the main cryptocurrency is trading again above 50k and crypto enthusiasts are calling for a break above 60k. In my opinion, this will not happen and, if it will, will be very short-lived.
From a technical point of view, the rise from 43k is corrective, not impulsive and a break under previous resistance just above 50k would accelerate losses to at least 40k.
I'm looking to short it
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