On the daily time frame we can see that an upward movement was followed by a gravestone candle. Bitcoin defied technical analysis by following with strong bullish daily candles after the gravestone candle suggesting technical analysis isn't as relevant and BTC remains bullish.
Support being around the 26,000 area, a drop towards 24,000 seems very unlikely. There doesn't seem to be a reason to drop to 24,000 since there's sufficient support above 25,000. In the event that it does drop below 25k, I doubt it will last very long. Sentiment is bearish right now but my outlook is still bullish, at least until a nice round PT of 30,000 is reached.
Please share your thoughts, opinions on this. Don't forget to like!
Support being around the 26,000 area, a drop towards 24,000 seems very unlikely. There doesn't seem to be a reason to drop to 24,000 since there's sufficient support above 25,000. In the event that it does drop below 25k, I doubt it will last very long. Sentiment is bearish right now but my outlook is still bullish, at least until a nice round PT of 30,000 is reached.
Please share your thoughts, opinions on this. Don't forget to like!