Bitcoin is finally recovering, or is it?

Bitcoin is finally recovering, or is it?


Bitcoin has been boring over the weekend, bouncing between support at $9200 and resistance at $9350.

Early this morning it moved up and several news are now saying we are finally recovering and heading for the moon.

Although I'm long term bullish on Bitcoin, in the short-term we could see some rough waters.

have a look at where the price is now, yes that's the down-trend line I placed on the 16 Jun 2020, you can read the article here.

A week later, we have just touched it again and held down by it.

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If we can't break above it, we are probably heading down again and hopefully be supported by the top green line at $9340.

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The window between the purple downtrend and the top green line is closing and I'm expecting some big move this week between the 24th and the 25th.

 

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