Bitcoin (XBTUSD) A Closer Look... Bearish Bull or Bullish Bear?

1 feb 2020

We are likely looking at a bearish bull for Bitcoin (XBTUSD) mid-term since we have the halving coming in soon...

BITCOIN HALVING 2020
We can still have another strong bullish move but a bearish wave is still left before the halving, based on past history, Bitcoin and many altcoins always tend to drop before the halving and start to grow only after the event has taken place.

XBTUSD CHART ANALYSIS
On the chart above, XBTUSD 4H, we can see really good volume to reject a candle close below EMA10 but prices still failed to gain momentum and are now trading below the last high.

With a rising wedge showing, which is a bearish pattern, Bitcoin needs to break the last high quickly to continue higher or else prices can start to drop...
To the upside, we are looking at $10000 to $10400 as our next target.

Agree or disagree ... ???

Let us know in the comments section below.

Namaste.