Spirit of Crypto
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Spirit of Crypto

This is an email from Where Spirituality meets Technology, a newsletter by Spirit of Crypto.

Bitcoin Got a $9K Punch — Is the Bull Run Knocked Out?

Or we’re setting up for one more round to go?

Photo by Attentie Attentie on Unsplash

All looked good for Bitcoin in the trading arena last week.

It was setting up an impressive cup and handle combination. Ready to punch up its price over $65.000,-.

The crowd cheered while Bitcoin repeatedly tried to get through a $59.5 defense. All heated up, on steam, it tried multiple combinations to breach the bears while the crowd whipping their bull flags.

The bears didn’t falter. Instead, they punched Bitcoin back into the $55.5 region.

Time out.

After hundreds of live-streamed YouTube pep talks and some water splashed in the face, Bitcoin bulls went into attack mode straight from the start. It placed an impressive double top at $58.2. The Bears tilted for a moment but found hidden resources while Bitcoin dropped out of its victory momentum.

Bitcoin lowered defenses, and at the moment nobody excepted it, fierce bears took control of the game. Or did they?

Bitcoin hit the ground at $53K, a significant $9K drop from its earlier high. It stayed on the ground for a few days now. The referee is up and counting.

Is this the next correction, or did the bears just blew an impressive hole in Bitcoin’s Bull run?

Read more here>>>

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