Well, I have been a really bullish trader lately which did not go well.. So what happened yesterday, we dropped from 7600 USD to 6700 USD WHY? All indicators and patterns showing upward movement but it drops more than 10 %. Remember our bullish divergence line? Looking at this trend we should have hit 6900 USD in this correction however we stopped at 6900 USD and once we didn't hit that as the bounce and support was too strong, Bitcoin was looking its way to hit this support so when it started dropping yesterday to hit the support line the support at this price was not too strong as people are tired of waiting this has been a correction of 6 month since we hit 20k value so the support was broken in a matter of second with bears in the market. And now we should be looking to hit 6500 USD as our support making a double bottom at this value. So, my support is 6500 USD now, even though there are indicators in the market showing a bullish signal. How big will the bounce be? Well at least 6800 USD. In general/long-term trend I stay bullish as this is a really undervalued price for Bitcoin with indicators showing upward movement, and it should really be done with its ABCDE correction. What a correction guys...
Good Luck, Traders!
Good Luck, Traders!
