Couple days ago i mention in one of my ideas that i expected a much more agressive move to the upside or to the downside with much more volume when we broke ATH around 61k usd.
To be honest i wasnt expecting this kind of price movement to the downside but this is crpyto markets so one shouldnt be suprised by this and always be prepared with ones orders!
Price movement right now looks we brokeout the uptrend line to the downside while we are still around 50 days ema. If 50 day ema offers some support we can still go up.
I personaly think uptrend line should be broken and price should consolidate before price action make a move to the upside because we need this kind of price action for more secure price movement to the upside.
BTC still is bullish with all the big instutions buying and offering BTCUSD trade to their customers. Unless governments act against BTCUSD i m not sure if btc price will enter a bear market anytime soon!
Be carefull with your trades and have patience always!
To be honest i wasnt expecting this kind of price movement to the downside but this is crpyto markets so one shouldnt be suprised by this and always be prepared with ones orders!
Price movement right now looks we brokeout the uptrend line to the downside while we are still around 50 days ema. If 50 day ema offers some support we can still go up.
I personaly think uptrend line should be broken and price should consolidate before price action make a move to the upside because we need this kind of price action for more secure price movement to the upside.
BTC still is bullish with all the big instutions buying and offering BTCUSD trade to their customers. Unless governments act against BTCUSD i m not sure if btc price will enter a bear market anytime soon!
Be carefull with your trades and have patience always!