Graeme Tennant, our Financial Analyst at Global Crypto takes a look at the Bitcoin chart and shows us why he is still extremely bullish on the longterm, but highlights just why he is looking fairly bearish in the short term.
Due to the current price structure, a spill down to around the $9500 is very possible, and actually quite likely.
Keep an eye on that $10,500 and then the $10,000 areas for confirmation of this move to the downside.
$9,200 looks like it will be a more specific solid support if it falls through those above supports – and from these regions we can reassess.
Give this week’s analysis a watch: