Ever since Bitcoin hit $67k, it has been trading down. An over-leveraged market is the main reason for the current bearish move. However, it's very notable that every "dip" is being bought up quickly.
During BTC's bearish move, a clear bearish channel has appeared on the chart. Over the last couple of hours, BTC saw a massive bullish move towards the top of the channel. Will BTC break out and continue the bull-run from earlier in October?
Most bullish scenario would be for Bitcoin to break out and move towards $63.5k in the coming days. Seeing that a lot of alts are seeing massive returns today and yesterday, it indicates that investors are still very bullish.
However, there's still a very decent chance that Bitcoin will reverse from the channel's resistance and move down. In that case, please refer to yesterday's BTC analysis for a potential area of reversal.
Happy trading!
During BTC's bearish move, a clear bearish channel has appeared on the chart. Over the last couple of hours, BTC saw a massive bullish move towards the top of the channel. Will BTC break out and continue the bull-run from earlier in October?
Most bullish scenario would be for Bitcoin to break out and move towards $63.5k in the coming days. Seeing that a lot of alts are seeing massive returns today and yesterday, it indicates that investors are still very bullish.
However, there's still a very decent chance that Bitcoin will reverse from the channel's resistance and move down. In that case, please refer to yesterday's BTC analysis for a potential area of reversal.
Happy trading!
🎯Official Channel: t.me/FieryTradingChannel
📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
✅Monster Signals: t.me/monster_cryptosignals
🔥Premium Signals: www.fierytrading.com
📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
✅Monster Signals: t.me/monster_cryptosignals
🔥Premium Signals: www.fierytrading.com
