Bitcoin Daily Outlook
*We have seen a break of our trend line, Bitcoin will need to have a strong recovery soon or we will trade lower.*
Daily:
Bitcoin closed bearish once again dropping 3,000 pips on the day. If we do not see a strong recovery soon, it’s likely we will go lower and test the lower teal trendline. We are currently trading under the major support level of $40,500 and price is going to become more volatile throughout the week. Our price action is good and I’m remaining bullish but we need to see good structure soon to continue making higher lows on the daily. I will continue to monitor the intraday, I’m currently in a bullish swing but we may be stopped out soon. *Investors should consider accumulating at these statistical discount levels, we are currently in a discount of this trend. *
Intraday:
The intraday was volatile. We dropped 3,000 pips on the day through a consistent bearish consolidation. We haven’t seen much volume which is why I was expecting a sudden and large move higher to liquidate orders and relieve bearish pressure. I will continue to monitor the intraday for more buy opportunities.
Daily:
Bitcoin closed bearish once again dropping 3,000 pips on the day. If we do not see a strong recovery soon, it’s likely we will go lower and test the lower teal trendline. We are currently trading under the major support level of $40,500 and price is going to become more volatile throughout the week. Our price action is good and I’m remaining bullish but we need to see good structure soon to continue making higher lows on the daily. I will continue to monitor the intraday, I’m currently in a bullish swing but we may be stopped out soon. *Investors should consider accumulating at these statistical discount levels, we are currently in a discount of this trend. *
Intraday:
The intraday was volatile. We dropped 3,000 pips on the day through a consistent bearish consolidation. We haven’t seen much volume which is why I was expecting a sudden and large move higher to liquidate orders and relieve bearish pressure. I will continue to monitor the intraday for more buy opportunities.
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