Bitcoin: Weekly Forecast 20210620
Bitcoin continued to range for one full month since it tumbled to a 50% loss.
Last week, Bitcoin lost steam quickly after it faced resistance at 41500 and the selling continued through the weekend.
As the FOMC is just over and signals for tightening, Bitcoin may continue to lose its ground, ending the current consolidation and head for an even bigger pullback in search of stronger demand.
This week, we will look to sell Bitcoin if it pulls back to 35200, and aim to take profit as it reaches the 60% pullback mark at 26000.
Last week, Bitcoin lost steam quickly after it faced resistance at 41500 and the selling continued through the weekend.
As the FOMC is just over and signals for tightening, Bitcoin may continue to lose its ground, ending the current consolidation and head for an even bigger pullback in search of stronger demand.
This week, we will look to sell Bitcoin if it pulls back to 35200, and aim to take profit as it reaches the 60% pullback mark at 26000.
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