A couple of days ago I made an analysis on Bitcoin and the horizontal consolidation phase it was trading in. I mentioned that little was about to happen inside this range and that we should be patient for BTC to break out of this pattern.
As of recently, BTC been edging lower and lower. Furthermore, it made a new low at $28k two days ago.
It seems that bears are winning this battle. Unless bulls will prove their power in the coming days, I think that BTC will fall towards the capitulation area (blue).
As of recently, BTC been edging lower and lower. Furthermore, it made a new low at $28k two days ago.
It seems that bears are winning this battle. Unless bulls will prove their power in the coming days, I think that BTC will fall towards the capitulation area (blue).
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