Volatility is inbound and a drop is now valued at over 58%
Bitcoin has been finding support on the wedge after exiting from it but right now that level ceases to exist!
We could be experiencing a drop to 50k the same way we could experience a rise to the 58k resistance.
In any case, the chances of a rise back to the 60k mark are not enough to support Buying setups.
ps. Sometimes we need to go lower, to a level where some big buyers (and a lot smaller ones) are waiting to reenter or re-enter.
Round number of 50 might be what we need to see before going higher to 70k
the FXPROFESSOR
Bitcoin has been finding support on the wedge after exiting from it but right now that level ceases to exist!
We could be experiencing a drop to 50k the same way we could experience a rise to the 58k resistance.
In any case, the chances of a rise back to the 60k mark are not enough to support Buying setups.
ps. Sometimes we need to go lower, to a level where some big buyers (and a lot smaller ones) are waiting to reenter or re-enter.
Round number of 50 might be what we need to see before going higher to 70k
the FXPROFESSOR
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