BTCUSD Market Update - 5/26/21
Bitcoin looks like its cauvht bottom after the falling knife at the $33,000 level of support and is now heading back upwards.
However it does look like its going to capitulate for a little bit until it fully reverses back up. I believe that we're going to continue consolidating around the $39,000 level and this upwards channel until we come up and wick $44,000 and $47,000.
From this point its the decision moment whether Bitcoin breaks back above here and continues its run upwards and I believe its going to. The bull run is not over but the reversal will come in late June to early July and pump throughout July and August before another pullback going into the fall.
Right now is a great time to buy in for the long term, you're basically getting a 40% discounted Bitcoin and other cryptos across the board.
As always please do your own research, I am not a financial advisor.
However it does look like its going to capitulate for a little bit until it fully reverses back up. I believe that we're going to continue consolidating around the $39,000 level and this upwards channel until we come up and wick $44,000 and $47,000.
From this point its the decision moment whether Bitcoin breaks back above here and continues its run upwards and I believe its going to. The bull run is not over but the reversal will come in late June to early July and pump throughout July and August before another pullback going into the fall.
Right now is a great time to buy in for the long term, you're basically getting a 40% discounted Bitcoin and other cryptos across the board.
As always please do your own research, I am not a financial advisor.
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