#BTCUPDATE – 12.5.21

#BTCUPDATE – 12.5.21

Following yesterdays analysis pretty closely, as expected a challenge at around the $57.5k region, interestingly if we stay above $56.5k (in this upward trendline then it puts us back in an ascending wedge . Losing it puts us in an downward channel which will likely lead to a big pump – so to benefit us long term we ideally want to see a little bit of a drop here – other wise it can lead to quite a heavy dump. if it breaks down on this larges scale ascending wedge .

I am still sticking to yesterday predictions and expecting to see a little bit of downward movement today to about $55.3k and within the channel although nothing aggressive.