Hello folks, one more day! And what a day, we could really say that right now we are "on sale". Bitcoin has had a stronger correction than we expected and we will explain why.
Yesterday we discussed the formation of a bullish pattern, and although from my point of view I expected to break that triangle or flag, we talked about the possibility of its breakout, and that if it passed the price would fall to the marked support areas.
Well, as we have said, we were wrong to be too optimistic but we also said that this could happen. Anyway, the only thing we can see right now are buying opportunities. We continue to maintain our optimistic stance against bitcoin and these corrections are necessary within the rise that we had in recent days
What can we expect?
Well, as we can see we have rotated the green triangle down, generating a new purple triangle in which bitcoin is currently trapped. It is incredible to see how bitcoin has momentarily destroyed our Support 2, bouncing for seconds on an old support that I have marked. The bulls have not allowed it to go any further, so it again pierced our Support 2, this time on the upside. Amazing!
We are in the same area where on the 20th we proposed to make purchases. The normal thing now would be to make more purchases, or to expect a slight drop to 50-51k. The only bad thing about this bearish movement is that bitcoin will need to breathe for a few days to get back to the speed that it was days ago. As soon as the price breaks the bearish triangle, bitcoin will return to bullish strength. HODL!
News
Today we have important news and not good. Good old Peter Schiff has decided to buy bitcoin, and when such a reluctant person finally deigns, he is usually late. That is to say, it is logical that a strong correction came after the purchase of our little dinosaur friend. No positive or relevant news has emerged throughout the day on any cryptocurrency, but we will be tuned in case any movement occurs!
See you tomorrow guys :)
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