BTC/USD - Decisive Price Action Ahead - Are You BEARISH?!
Momentum has been fading for some days now and Bitcoin is at a critical point. Can it hold on or will it fall under this bearish wedge?
Both the price action as well as the indicators give a bearish bias in my opinion and a drop is likely. Buyers would need to come in force to turn this price action around.
For now, volatility remains low, but this will likely change soon. If BTC can't hold above $24k, expect a significant drop to follow.
I am bearish on this price action and I see support on the 200 week moving average and below at $22k-20k.
Lets see what happens next. Won't take long now IMO.
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Both the price action as well as the indicators give a bearish bias in my opinion and a drop is likely. Buyers would need to come in force to turn this price action around.
For now, volatility remains low, but this will likely change soon. If BTC can't hold above $24k, expect a significant drop to follow.
I am bearish on this price action and I see support on the 200 week moving average and below at $22k-20k.
Lets see what happens next. Won't take long now IMO.
Like and follow if you liked this idea.
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