Why I Count on a Respectable Pullback within the Crypto Market
Hey, women and gents!
Bitcoin has hit a vital stage the place it initially confronted rejections over 5 instances.
Now, in the event you examine the 3-day chart for the BTC-USD pair, you’ll see that it’s been buying and selling inside a bull flag sample since March 2024. (See the instance beneath).
Trying on the chart above, I anticipated a bullish breakout this previous weekend; as an alternative, Bitcoin confronted rejection across the $65k-$66k vary.
Now, this rejection has introduced worry into the market and plenty of consider the bears have regained management.
Nevertheless, I consider it’s too quickly to make that decision.
Keep in mind, right this moment marks the primary buying and selling day of the week, and the month-to-month candle closes right this moment.
So, count on a fierce battle for dominance as market forces vie for management. See the chart above.
From the every day BTC-USD chart above, it’s clear the bears are trying to push the worth decrease. However let’s see how far they go.
