Bitcoin Got a Big Punch — Is the Bull Run Knocked Out?
Or is this correction No. 5 and we’ve got one more round to go?
All looked good for Bitcoin in the trading arena last week, setting up an impressive cup and handle combination. Ready to punch up its price over $65.000,-
The audience cheered while Bitcoin repeatedly tried to get through a $59.5 defense. All heated up, on steam, Bitcoin blew multiple combinations to breach the bears while the crowd whipped 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 cold water splashed in the face, Bitcoin bulls went into attack mode straight from the start. They 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’s on the ground groggy for a few days now. The referee is counting.
