Bitcoin experienced a week bullish market in the past few days and now it has been reached to a wall. Although, it might seems passing the wall and going for a bullish market could be a possible scenario, I strongly believe that we are going to have a bearish market and it is a good time to enter a short position. The first reason appeared on the charts, considering two last successive minimum prices (just above the green mark) shows that the price is increased, while the greater decrease on the RSI describes it as a fake higher price, from which we could understand we are in a bearish market. What's more, looking to the Fibonacci Levels shows that the price could amazingly finds its bottom on the 0.618 level just above the other wall which is 7800 dollars price level.
Have profitable day guys
Have profitable day guys