Fact: Since Bitcoin went under $36500 (Our Previous Support Target), it dropped to $34000.
Fact 2: Even Bitcoin seems to have supported by 34k - Confirmation has not been formed at least on a daily chart.
Fact 3: All of our previous support targets ,starting from $36500 and above, are turning into resistance.
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Personal View: When all of the previous supports are turning into resistance meaning at some point, we will see bitcoin revisit those price targets because we are in the middle of the chart.
The $2.5k drop is certainly not significant enough for me to think the bearish trend is over. Besides, the $34k support has not been confirmed (on a 1-day Chart) and there are still more downside targets...waiting. So what I believe is that Bitcoin price can jump around and pretend to be bullish, we will meet at $34k again or more likely to go under...in my opinion.
Just a friendly reminder especially for newbies : Buying bitcoin at this moment and hoping for a miracle rebound is highly not recommended unless you know what you are doing. One more thing, even you must buy, don't forget Dollar-cost averaging. Best luck to all, *well-prepared holders are probably having an awesome time*
Immediate downside targets: 1. revisit $34,000 2. $32500
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(If you want to know more about PRESEARCH and KUCOIN and what they buying targets are, please read my previous posts)
Please use my referral link to sign up for Presearch, we both will receive 25 PRE Token bonus
https://presearch.org/signup?rid=1892143
My referral link for Kucoin exchange if you would like to buy PRE token:
https://www.kucoin.com/land/register/r/1h2ba1N
Always appreciate for channel support:
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