Bitcoin might be volatile in the next 8-12 hours
BTC UPDATE
A few takes from this daily closure:
- Bulls are trying to build a new support at $64k area.
- Bears are waiting at $65k area to drop the price again.
- Strong breakout trendlines are there to hold the price where I expect more bulls to join in.
- Some ranging between $65k - $64k is expected for some time until we have a clear breakout either side.
- 4hr timeframe has second last candle as engulfing candle indicating that the bulls are there somewhere at around $62k.
My take:
I think after 8 - 12 hours we'll see some sort of movement and I'll wait patiently. Lows can be retested again and BTW I am not bearish at all!
$59.5 - $62 support is getting retested that's all what I see it as! Bitcoin is still in the price discovery mode!
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A few takes from this daily closure:
- Bulls are trying to build a new support at $64k area.
- Bears are waiting at $65k area to drop the price again.
- Strong breakout trendlines are there to hold the price where I expect more bulls to join in.
- Some ranging between $65k - $64k is expected for some time until we have a clear breakout either side.
- 4hr timeframe has second last candle as engulfing candle indicating that the bulls are there somewhere at around $62k.
My take:
I think after 8 - 12 hours we'll see some sort of movement and I'll wait patiently. Lows can be retested again and BTW I am not bearish at all!
$59.5 - $62 support is getting retested that's all what I see it as! Bitcoin is still in the price discovery mode!
If you've liked the idea make sure to give a LIKE!