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Bitcoin Technical Analysis: BTC Bears May Be About To Strike (May 2020)
Bitcoin bears were brutally shaken out by the recent pump past $ 9k. This is because most of them have been short on the market since mid $ 7k and hoping for a reversal. During that entire time, I have been bullish on the market and had been anticipating a retest of $ 9k for the CME Futures gap to be filled, which it was. Now that it has happened, I expect the price of Bitcoin to trade sideways for a while before we see a major downtrend begin. It is important to realize that this upcoming downtrend in BTC / USD is going to be extremely devastating and it would be unlike anything we have seen before in recent history.
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