Get started
FetchTeam

The Bitcoin ETF news will not generate new highs (for now)

Short
Bitcoin (BITSTAMP:BTCUSD)  
FetchTeam  
BITSTAMP:BTCUSD   Bitcoin
Chart Patterns Technical Indicators Trend Analysis Bitcoin (Cryptocurrency) bitcoinprice bitcoinprediction bitcoinforecast bitcoinforcasting BTCUSD btcusdanalysis
1
0
chartpattern indicator trendanalysis bitcoin bitcoinprice bitcoinprediction bitcoinforecast bitcoinforcasting btcusd btcusdanalysis
Bitcoin has one clear level to break, which is the resistance of 30k to 32k. I'm observing that more people are starting to become bullish on Bitcoin, especially now that there is bullish news coming out, regarding the ETF of the biggest crypto today. I do believe that it is too early to celebrate.

As we can see on the chart, Bitcoin has already tried to break reisstance for the past 4 weeks. It failed to 4 times in a row and it looks like we're staring at the finaly rejection before the bigger correction.

I am still bullish on Bitcoin and i'm not trying to spread FUD. Only for the short term, I expect Bitcoin to experience a correction.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.