Bitcoin- Sell rallies for a 25-30% drop

27 בנוב׳ 2021

In the past week, 60k zone attracted sellers like a magnet and, after confirming this zone as a strong ceiling, Bitcoin has dropped like a stone yesterday, breaking under 55.500-55.700 zone range support and making a local low under 54k.
Now the cryptocurrency is in a normal rebound and this can offer a good opportunity to bears for opening short sell trades.
The old support from 55.500 should act now as resistance and in this zone I will look for selling.
Only BtcUsd above 60k would change my opinion and, as I said yesterday, Bitcoin can visit 40k zone by year's end.