On its way back up, the Bears took the opportunity, as this move was a confirmation of weakness and that’s exactly what the Bears were looking for.
The sell-off that has soon followed pushed the price through important Support Levels, like the 51K area. This was an important Level to hold because a significant low has formed around this Level back on the 25th of March and now BTC is trading right below it.
This move has created a Lower Low on the chart, which could mean trouble for the Bulls going forward.
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