BTC has made a bearish price action during this super bullish period for the whole crypto market. Price has a textbook situation, where higher high and higher low levels are broken aka a trend reversal pattern, where the last higher low level gets taken.
I would look out for strong bearish pressure around 60k region. There is potential that price may see some selling pressure from 60k level.
Trading is all about probabilities. And for the last 100 years, this pattern has been one with a high probability to succeed.
Although there is no real bias for the market to fall, we may expect to see some regular price action within the crypto space from here onwards, as the market matures and more and more money gets psuhed in to the crypto space.
I would look out for strong bearish pressure around 60k region. There is potential that price may see some selling pressure from 60k level.
Trading is all about probabilities. And for the last 100 years, this pattern has been one with a high probability to succeed.
Although there is no real bias for the market to fall, we may expect to see some regular price action within the crypto space from here onwards, as the market matures and more and more money gets psuhed in to the crypto space.
Comment:
Two weeks ahead of the move itself I saw the incoming drop from 60k to 44k. Movement has been filled and the potential for dip buyers is here.