The pressure is building up slowly but surely like a spring ready to burst. A strong move is bound to happen as we near the completion of the bearish pennant, from a technical standpoint it should break out to the bears, BUT the bulls are looking promising from a fundamental standpoint so uncertainty is very high amongst the retail traders. Decision will be made shortly where the price will go.
The levels to be watched for a break is between the $35.6k and the $31.6k mark (labeled as the red block). As the narrative is shifting the market is slowly looking more like it has bottomed out, based on the fundamental aspects.
This is my short update on the current market situation. Hope you enjoyed and would appreciate if you left a comment or like.
Thank you.
The levels to be watched for a break is between the $35.6k and the $31.6k mark (labeled as the red block). As the narrative is shifting the market is slowly looking more like it has bottomed out, based on the fundamental aspects.
This is my short update on the current market situation. Hope you enjoyed and would appreciate if you left a comment or like.
Thank you.