In my previous newsletter, I’ve outlined that my primary expectation is a bearish one and that the price of Bitcoin is headed to the downside even though a minor breakout was made from the descending channel.
Looking at the chart published at the time you can see that the price came to retest its resistance for support and support was present but now as the price action developed further I’ve released another update, this time in a video format due to the complexity of the explanation as we both a bullish as a bearish breakout are equally valid.
Even though my main scenario is still a bearish one, we are today going to see if it gets validated or not from this one key level with whom the price is currently interacting. Check out the video to see which level it is and what to look out for in the following period to have an early indication of the next longer-term trend.
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