After the recent top of around 31k, Bitcoin has started to correct the strong bull run that started at the beginning of 2023 and has dropped to 27k.
Big volatility followed and now bulls are trying to recover the lost ground.
However, the recent rise from 27500 is not very convincing and the pattern resembles a rising wedge.
A drop under 28500 would expose the 27k zone, but more importantly, would put pressure on the downside and could announce a top at 31k.
On the other hand, if bulls reconquer 30k a new high could follow.
From a speculative perspective is better to wait and see.
Big volatility followed and now bulls are trying to recover the lost ground.
However, the recent rise from 27500 is not very convincing and the pattern resembles a rising wedge.
A drop under 28500 would expose the 27k zone, but more importantly, would put pressure on the downside and could announce a top at 31k.
On the other hand, if bulls reconquer 30k a new high could follow.
From a speculative perspective is better to wait and see.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.