Mihai_Iacob

Bitcoin is entering a tough zone for bulls

Short
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
In my previous analysis, I said that Bitcoin can rise to 44-45k, and it did, but now what?
Of course, I can be wrong, but my bias for the Crypto market this year is bearish and my opinion is that all the rise from 33k was just a correction which was more than normal after 3 months of lower prices.

At this moment BTC is just entering a very tough zone, a zone where the price consolidated in December, and is very hard to spot a clear resistance.
In my opinion, after a few attempts up and some distribution in this zone, Bitcoin will resume its down move and can drop again to at least 36k .

As a speculator, I will try to sell rallies with that target in mind and only Bitcoin above 53k would change my opinion.

Best of luck!
Mihai Iacob

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