BITCOIN: CANDLES SPEAK: 25.02.2021

From yesterday’s forecast: “I would not be surprised if BTC makes another bounce to 51079 or, perhaps, a little higher and close the day around 48000-49000, similarly to today. “

Today BTC jumped to 51511 and closed at 47144, 30 points below yesterday’s low. From the candles perspective it means that the coin is going down, possibly sharply.

The weekly and monthly prints will be made this weekend. If the weekly closes below 46563, the previous week low, the coin would make a weekly Bearish Engulfing, meaning that a multi-week decline is highly likely.

Overall, I continue to expect that BTC to fall to at least 39000, possibly to 28000-30000 area in the next few weeks.
I am going to share my monthly update with more details once the weekly and monthly prints are done.

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