Bitcoin dropped to exactly pre-corona levels.
Strong support is holding the price and this looks like pretty much it (regarding down trend).
So if the current support holds then we could see fast recovery to 9k levels.
If it won't hold then there is paralel channel support lines Bitcoin would need to break to move more downward.
Halving event was classic "sell the news" scenario where liquidations killed a lot of hopium.
Now time to examine how the daily candle will close and react accordingly.
regards
Strong support is holding the price and this looks like pretty much it (regarding down trend).
So if the current support holds then we could see fast recovery to 9k levels.
If it won't hold then there is paralel channel support lines Bitcoin would need to break to move more downward.
Halving event was classic "sell the news" scenario where liquidations killed a lot of hopium.
Now time to examine how the daily candle will close and react accordingly.
regards
Kommentar:
Target achieved.
this is a good sign for futher uptrend in the channel.