Since the major drop we had last week, we could be seeing the start of the bear market. Bitcoin is currently trying to recover but until we see a bullish move similar to the massive drop we had last week, we should be cautious.
It is likely that we are within a correction and we could be seeing highs of 49K before dropping once again. Will be looking for bull flags until we hit the 61.8 fibonacci before flipping our bias to bearish if we see a clear rejection of the 49K level.
It is likely that we are within a correction and we could be seeing highs of 49K before dropping once again. Will be looking for bull flags until we hit the 61.8 fibonacci before flipping our bias to bearish if we see a clear rejection of the 49K level.
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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.