We are here at this point once again. The price of Bitcoin is under the mid-line of the bollinger band (20WMA). We should expect sudden drop from here within the next 3-4 weeks, unless we make another miraculous recovery like we did in mid May, however as convinced as I was then, Looking back now you can see it was a double top (April and November).
The price of Bitcoin will bottom at $23k-$24k, if we do not head back above the mid-line according to the weekly bollinger band.
In the short term I am looking for it to recover to $50500, $55,000 or up to $61k on the daily time frames.
On the Bullish side the weekly Supertrend is STILL Holding and the Bitcoin dominance is going down which could be a sign we might not have that drop yet.
I will keep a weekly update like I usually do when we are below the 20WMA.
The price of Bitcoin will bottom at $23k-$24k, if we do not head back above the mid-line according to the weekly bollinger band.
In the short term I am looking for it to recover to $50500, $55,000 or up to $61k on the daily time frames.
On the Bullish side the weekly Supertrend is STILL Holding and the Bitcoin dominance is going down which could be a sign we might not have that drop yet.
I will keep a weekly update like I usually do when we are below the 20WMA.
