This morning I wrote that Bitcoin has broken to the downside and it is in the middle of the move, I have also mentioned it might go to $26,500 which is happening now! At the time of writing Bitcoin has also reached the price target of the pattern!
So what has caused this move?
There has been few headlines today one is that miners are selling large amounts of BTC since April
There has also been some news that SBF instructed selling BTC if it is above 20k I think this has not influenced the price because the time between the news and the dump does not match. I go with miners selling their BTC! I guess they have bills to pay!
What's next when will the price recover?
I'd say $26,500 to $26,000 area should hold (the orange line at $26,000)
This will be great opportunity for a long position - of course it is to early to say definitively wy just need to watch what is happening in the chart and the news!
All The Best,
Aventurine!
