BTC: Bullish market structure. Support retest before the rally
Bitcoin is declining as localized negative sentiment prevails in the market.
A small shakeout and liquidation will allow the big player to gather liquidity faster before further growth
I'm keeping an eye on areas such as:
Rising support line
Support 64589
Support 66500
Strong moves are much easier to stop than if price approaches support slowly. Accordingly, the most probable scenario is a rebound in the form of a false breakdown
These zones are a pool of huge liquidity and a false breakdown could be formed at the low before price heads towards 71566 with a view to breakout and further rise towards 80K
A small shakeout and liquidation will allow the big player to gather liquidity faster before further growth
I'm keeping an eye on areas such as:
Rising support line
Support 64589
Support 66500
Strong moves are much easier to stop than if price approaches support slowly. Accordingly, the most probable scenario is a rebound in the form of a false breakdown
These zones are a pool of huge liquidity and a false breakdown could be formed at the low before price heads towards 71566 with a view to breakout and further rise towards 80K
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