BITCOIN OUTLOOK: WILL THE BEAST AWAKEN?
Last week, we posted an analysis on Bitcoin and predicted this nasty drop that is currently happening. As we can see from the chart, the price is super bearish and there is no bullish pressure or there are no any signs of a bullish reversal as of right now. Traders and investors continue to panic sell and remain in hope that the price will start losing its bearish momentum so they can "Buy the dip" and "aim for the moon". 28k area is a strong demand zone. However, we doubt that we the price will start reversing as soon as it reaches that mark. Things could get really ugly if the price manages to break through that zone.
All in all, we are staying out of crypto trading for the moment, as it is too messy and unpredictable. We are hoping that our favourite cryptocurrencies can gain power and reverse to the upside in the upcoming months.
What do you think, family? We would be happy to hear your thoughts and opinions in the comment section below
All in all, we are staying out of crypto trading for the moment, as it is too messy and unpredictable. We are hoping that our favourite cryptocurrencies can gain power and reverse to the upside in the upcoming months.
What do you think, family? We would be happy to hear your thoughts and opinions in the comment section below
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