🔥 Bitcoin Losing The Uptrend: Fall Through Support
As of now, BTC is trading 20k. This is a very important area of support for a multitude of reasons, so a fall below will naturally be bad for the market.
Around a week ago we saw a strong bounce from said support. A daily close below 20k would mean that we've lost the daily uptrend and are not in a higher-high and higher-low scenario. In my view, once we lose 20k, 19k and potentially 18k are next. Be aware that we first have to close below 20k.
This in line with yesterday's analysis where I compared the current market with the 2018 capitulation.
Around a week ago we saw a strong bounce from said support. A daily close below 20k would mean that we've lost the daily uptrend and are not in a higher-high and higher-low scenario. In my view, once we lose 20k, 19k and potentially 18k are next. Be aware that we first have to close below 20k.
This in line with yesterday's analysis where I compared the current market with the 2018 capitulation.
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