From TradingView · · 40s
Bearish BTCUSD Longterm for BITSTAMP
Bitcoin price expected to drop after rejecting key monthly high.
In brief
Bitcoin price expected to drop after rejecting key monthly high. Bitcoin price rejected a key monthly high, signaling potential short-term decline toward 50,000. Originally reported by TradingView.
Bitcoin price rejection
Bitcoin price rejected a key monthly high, signaling potential short-term decline toward 50,000.
Bearish longterm outlook
Price is currently building liquidity above recent highs before the next leg lower, with possible final raid of the swing high to complete manipulation.
Next target level
Expect expansion toward the 50,000 psychological level and open sell-side liquidity below after price fails to hold above recent swing high.
The takeaway
Bitcoin price rejected a key monthly high, signaling potential short-term decline toward 50,000.
