Hello Dear Traders, Today BTC closed weekly candle and its bullish bt closed with selling pressure. btc is holding well 30k area after massive crash. on lower time frame btc is preparing for upside retracement to 45-47k area. it will be very hard to cross this area and test 50k iconic mark. on daily timeframe btc has made double bottom bullish chart pattern and soon we will test upper price segments with minor corrections. in few hours we will close monthly candle and its going to close very bearish. MAY 2021 was Worst month in entire BTC history. Don't ever underestimate POWER of MONTHLY Candles. As i said Soon btc will test 45-47k area it doesn't mean BTC is Bullish again, its just a retracement occurs when price pumps or dumps. I will be bullish again after Strong monthly candle closing only. Every rise is great opportunity for bears to SHORT Btc.
But let me also say that in the monthly time frame, bitcoin has to go to 25,000 and 27,000 once and touch the floor. But now is not the time