Why I Anticipate a First rate Pullback within the Crypto Market
Good day, girls and gents!
Bitcoin has hit a important stage the place it initially confronted rejections over 5 occasions.
Now, in the event you test the 3-day chart for the BTC-USD pair, you’ll see that it’s been buying and selling inside a bull flag sample since March 2024. (See the instance beneath).
Wanting on the chart above, I anticipated a bullish breakout this previous weekend; as a substitute, Bitcoin confronted rejection across the $65k-$66k vary.
Now, this rejection has introduced concern into the market and lots of imagine the bears have regained management.
Nonetheless, I imagine it’s too quickly to make that decision.
Keep in mind, at present marks the primary buying and selling day of the week, and the month-to-month candle closes at present.
So, anticipate a fierce battle for dominance as market forces vie for management. See the chart above.
From the each day BTC-USD chart above, it’s clear the bears try to push the worth decrease. However let’s see how far they go.
