if BTC is entering a bear market then we would need to see a close below 45k .
Currently we dont see this behavior and id expect BTC may only wick down to the 45/44k area
and consolidate there before pushing higher towards 62k
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The high volume bearish candles are at 52454 , 55655 and 60400. These are the areas are where then bears will defend their positions to prevent BTC from crossing .
Hence the first thing we'd need to see if BTC has any energy left is a move above the first bearish candle at 52454.
The bulls meanwhile have the high volume bullish candle at 46507 which they will defend to use as support
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Hence the first thing we'd need to see if BTC has any energy left is a move above the first bearish candle at 52454.
The bulls meanwhile have the high volume bullish candle at 46507 which they will defend to use as support