Hi Traders, Investors and Speculators of the Charts ๐๐
Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year.
Bitcoin is consolidating under resistance zone of 29K - 30k and this is BULLISH. However, it's worth pointing out a possible scenario that we DON'T want to see right now - a drop under 25k. This will form an ugly Head and Shoulders pattern that could take us back to a brief wick support around 19k.
I'm labelling this post as a "long" or bullish, because until we actually drop under 25K, I remain of the opinion that we've stared a new bullish cycle.
While you're here ๐ Check out this update on XLM which recently increased nearly 60% :
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Bullish scenario looking the most probable at this point
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We can't afford to lose BTC support now, HOLD 28K otherwise 26K seems likely
This is probably the best publication on this asset in the current market sentiment + I've seen a couple of news stories that would also support this idea. Thanks for sharing)