Market Update: BTC bounce back


We are seeing a clear bounce back from 32000 support but we need to have much more buying pressure to be able to see the reversal. Another fact to note is that the 32000-33000 zone has been tested several times, making this specific support zone weak. This could suggest that another retest could easily invalidate the support and we will see a dip to our next supports at 30000 and then 28000.

If you are a holder then you may be relaxing and enjoying the dump. If you are a scalper then you will be busy trying to make some quick bucks.

All is well as long as we are above the last Bullrun’s ATH, which is 20000.

As of the last major supports we have a few very strong supports such as 22000 and 24-25000 zone. But as of now, we should remain bullish because BTC has not even broken 30000.

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