Bitcoin has dropped as expected to our support at $41k (see my last idea linked below). Now we have a very important moment which will define the next steps for BTC.
Can we paint a higher low or will we fall under our previous low?
If we hold price above the last low, then the bias will be somewhat bullish as that will indicate buyers are coming in early to buy BTC not leaving price to fall much more. This would be a show of strength for the bulls. If however, bulls don't show up and price paints a lower low... then that is a sign of weakness and BTC may fall to $38k.
This is not the time to take bets, but wait to see what happens. Chart is clear, now the market forces have to decide the next step.
Like and follow if you liked this idea!
Can we paint a higher low or will we fall under our previous low?
If we hold price above the last low, then the bias will be somewhat bullish as that will indicate buyers are coming in early to buy BTC not leaving price to fall much more. This would be a show of strength for the bulls. If however, bulls don't show up and price paints a lower low... then that is a sign of weakness and BTC may fall to $38k.
This is not the time to take bets, but wait to see what happens. Chart is clear, now the market forces have to decide the next step.
Like and follow if you liked this idea!
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