Hello traders,
With the current selloff we had yesterday, Bitcoin continues its downtrend, but I believe a reversal is coming very soon. The current move down is looking similar to the September correction, starting from the left top and continuing with a smaller local top 2 weeks later. It is likely we will progress sideways from here and break through the range around the middle of this month.
40-42k level is a weekly demand zone, where there has been strong buying pressure and it's unlikely we are going to continue down. Looks like a good time to load the bags and ride the wave for what's coming next!
With the current selloff we had yesterday, Bitcoin continues its downtrend, but I believe a reversal is coming very soon. The current move down is looking similar to the September correction, starting from the left top and continuing with a smaller local top 2 weeks later. It is likely we will progress sideways from here and break through the range around the middle of this month.
40-42k level is a weekly demand zone, where there has been strong buying pressure and it's unlikely we are going to continue down. Looks like a good time to load the bags and ride the wave for what's coming next!
King