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In our previous Bitcoin analysis Bitcoin Prints New ATH! $70k Next? we talked about the potential Bitcoin sell-off and the red flags to watch out for.
Well, that bearish prediction played out exactly and right now Bitcoin is has found support and is bouncing off a key level we have made mention of on numerous occasions.
However, Bitcoin is still very much in the bearish territory. By trading back below the $58,274 previous ATHs, the Bitcoin chart paints a clear picture of growing weakness in price.
To take advantage of this Bitcoin trade setup, you can sign up using this link to get up to $200 after your first deposit.
Bearish Price Scenario
For the Bitcoin bearish price scenario, we need to see the price weakness on Bitcoin persists, this would increase the probability that we might see the selling pressure on the Bitcoin price intensify in the coming days.
But for this to occur, we need to see the $58,274 previous ATH act as resistance to the Bitcoin price.
Once the Bitcoin price breaks through the $51,928 support region, the next key level, and likely target to aim for is the $43k region.
Bullish Price Scenario
For the bullish price scenario, we need to see the Bitcoin price break through the $58,274 previous ATH. This break would push Bitcoin back into bullish territory, opening the way for the largest cryptocurrency in the world to surge to $70k in value in the coming days.
To take advantage of this Bitcoin trade setup, you can sign up using this link to get up to $200 after your first deposit.
We also created a video below where we talked more in-depth about the patterns developing on the Bitcoin chat as well as key fundamental factors that might affect the Bitcoin price in the coming days.
To gain more information on how to partake in this coming Bitcoin Bull run and trade this cryptocurrency, you can read my How To Trade Bitcoin Guide. You can also check my top list of Best Bitcoin Exchanges To Trade With
