🔥 Bitcoin: All Signs Pointing To Deep Correction
Over the last few weeks I've been repeating the same message over and over: the ETF launch is NOT a moment to buy and will most likely lead to a short-term correction. The ETF, combined with long-term resistances & bearish divergence made it a statistically bad time to buy.
After a ~16% correction from the top, we're now trading around the 41k area. In my view, we're soon going to test the real support of the 4 month bull-trend: the 40k support.
The battle will be fierce, but I expect the bears to pull through. 40k will be lost and a bigger correction is due.
My target for the next couple of weeks is the bottom yellow support of the channel.
After a ~16% correction from the top, we're now trading around the 41k area. In my view, we're soon going to test the real support of the 4 month bull-trend: the 40k support.
The battle will be fierce, but I expect the bears to pull through. 40k will be lost and a bigger correction is due.
My target for the next couple of weeks is the bottom yellow support of the channel.
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