🔥 Bitcoin Bearish Wedge Break Out: We're Not Done Yet

A few days ago I made an analysis on Bitcoin and the fact that it was trading inside a bearish wedge pattern.


Today, we saw a massive sell-off and the bearish break out got confirmed. The price has not yet reached the support area, so I'm not convinced yet that the bottom is in. It's true that the 60k support is holding today, but I wouldn't be buying from this support, not for the long-term at least.

BTC's best shot at a longer-term bullish move is to reverse from a strong support area, like the one indicated in the chart. Therefore, I don't thing that we're done yet with the bearish price action.

Happy trading!