QUICK UPDATE: Bitcoin is continuing the bearish trend of the last weeks and has completed and retested previous support (red box) of its bear pennant. The technical target of the breakdown is around 38,500 usd. It's not what we like to see but its a realistic scenario, however; always remember: nothing is for certain.
IMPORTANT: this is not financial advice, trade or invest based on your own risk and research
IMPORTANT: this is not financial advice, trade or invest based on your own risk and research
Comment:
Typical crypto behavior; always acting irrationally. When you'd open the analysis youd see the RSI finding support on previous resistance perfectly for 3 hits and then blasts off to the upside breaking top resistance of the triangle. Now this could mean one out of two things: a pump to take the bears out and continuation to the downside trending with the stock market (down at the moment) or this is a bullish reversal. Next week we'll have more clarity on that... I might jump into a video explaining my views on the market a bit more clearly than a line of text and a chart. I need some more time for explaining my view on the market.
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