BTC/USD Forecast Fundamental Analysis | Bitcoin / US Dollar
The forecast for the BTC/USD remains bearish in the short term after this cryptocurrency pair reversed its previous sell-off into its Ichimoku Kinko Hyo Cloud, which carries a strengthening bearish bias. While the Kijun-sen remains flat, the Tenkan-sen shows a minor uptrend, suggesting volatility may rise before the next move to the downside. Adding to breakdown pressures is the CCI after moving out of extreme overbought territory with plenty of downside potential. Can bears pressure the BTC/USD into an extension of its sell-of until it can challenge its next horizontal support area?
Great job. Indeed, we will see the EUR 20-22k area and the $23-25k once again. This time it will be a final confirmation that we are out of this correction. FYI: these types of corrections take 3-4 months, so technically everything is as it should be for now. Watch out for reversals and institutional candles! Adjust and overcome. Safe trading.
@FOREXN1, It's all good :) I needed to put it out there. Indeed if we struggle at the EUR 20k area then it could get stark, otherwise, we should see a lovetap and that is the confirmation (to be specific, when you see 10% drop on the 15 minute candle), as per previous support.