A few days ago I made an analysis on BTC and the bull-flag it was trading in. My expectation was that Bitcoin would move down towards the bottom support and reverse from it to keep the trend intact.
As of earlier this morning, BTC has retested the support and has bounced from it. Time will tell whether the support will actually hold in the longer term.
This is the chance for the bulls to show themselves. If BTC fails the bull-flag and falls through the support, chances are that we will go down much further.
Still, the trend is your friend. Statistically speaking, we should be breaking on the top side. My 48k target still remains in play.
As of earlier this morning, BTC has retested the support and has bounced from it. Time will tell whether the support will actually hold in the longer term.
This is the chance for the bulls to show themselves. If BTC fails the bull-flag and falls through the support, chances are that we will go down much further.
Still, the trend is your friend. Statistically speaking, we should be breaking on the top side. My 48k target still remains in play.
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